Trading on the Borsa Istanbul 100 Index was halted on Sept. 16 after prices collapsed enough to trigger a market-wide circuit breaker. The 6% decline puts the benchmark on track for its steepest two day drop since March 2025, with nearly every stock in the index losing value during the session.

The slump follows reports that a large Turkish asset manager failed to satisfy investor redemption requests, sparking fears of a broader liquidity crisis across the national fund industry. Turkey's 10 year bond yield climbed to 32.87%, its highest level in 16 weeks, while the main stock index has lost more than 11% in the last six days.