Turkey Stock Rout Triggers Circuit Breakers Twice in an Hour (3)

Turkey halted trades on the Istanbul bourse as this year’s second biggest selloff for the market triggered circuit breakers while the lira extended its drop to a fresh record low.

Trading of equities, equity derivatives and debt repo transactions were automatically halted twice within an hour after the Borsa Istanbul 100 index fell as much as 7% on Friday.

The benchmark ended the day 8.5% lower, its biggest drop since March when the firing of then-central bank Governor Naci Agbal spurred a turmoil in Turkish financial markets.

Turkish equities were on a tear for much of the last four ...