FX.co ★ Turkey’s stocks fall after military intrusion into Syria

On August 24, Turkish stocks opened lower following the news about deployment of Turkey’s troops in Syria. In the early trade, Borsa Istanbul’s BIST 100 stock index plummeted 2.87%.
Besides, the Turkish currency also fell in value. The Turkish lira hit a low at 3.37 against the US dollar, which is 0.525% down from the close of August 23.
Earlier, BIST 100 sank on July 21 in the wake of a failed military coup. In response, Turkey’s President Erdogan declared a three-month state of emergency.
A month later, Turkish tanks, warplanes, and special troops entered northern Syria. The campaign is launched to battle ISIS on the Syrian-Turkish border. By the evening on August 24, the Turkish army and allied Syrian rebels captured Jarablus, the ISIS stronghold on the border.