Breaking News: Dawn Operation Hits Turkish Markets Gold and Dollar Surge, Stock Market Crashes

Gram gold reached a new historic high of 3,716 TRY in the Grand Bazaar after an arrest warrant was issued for Ekrem İmamoğlu and 100 other individuals. The US Dollar/Turkish Lira (USD/TRY) exchange rate also hit new records, with the USD/TRY reaching 42 TRY. Meanwhile, the Istanbul Stock Exchange (Borsa İstanbul) faced a dramatic drop, triggering the circuit breaker after losses surpassed 5% during the opening session.

Turkey woke up to a new day marked by operations. After the arrest warrant for Istanbul Metropolitan Municipality (İBB) Mayor Ekrem İmamoğlu and 100 others, gram gold started the day at 3,654 TRY, hitting a new record.

Stock Market Circuit Breaker Activated

Following the arrest decisions, the Borsa İstanbul 100 (BIST 100) index opened with a sharp drop of 6.87%, losing 741 points to reach 10,060 points. On the previous day, the BIST 100 index had declined by 0.55%, closing at 10,802.23 points. The banking index lost 7.02%, and the holding index dropped by 6.69%. All sector indices saw a decline, with the largest loss in the communication sector, which fell by 7.56%. When the losses exceeded 5%, the circuit breaker mechanism was triggered.

BIST’s Statement to KAP:

As of 09:55:19, the circuit breaker for the index was activated, temporarily halting all transactions in the Equity Market, as well as futures contracts based on the Equity and Equity Indices in the Futures and Options Market (VIOP), and transactions in the Borrowing Instruments Market (BAP) Equity Repo Market.

Current Situation in Gram Gold:

Gram gold continues to break records due to the rising USD/TRY exchange rate and the new highs in gold prices globally. In the morning session, gram gold reached 3,622 TRY, setting yet another record.