Turkey’s main stock index falls 1.6%, nearing bear market

A move toward bear-market territory reflects a broad reassessment of Turkish equity risk rather than a single-sector story. The benchmark's slide matters most for local and foreign holders of Turkish assets, and for how Istanbul's market is read alongside the country's currency and rates. Whether the index actually closes in bear territory, and whether selling broadens beyond the large caps that drive the benchmark, is the open question.