Turkish lira and BIST 100 under pressure as global tech stocks slide
The lira traded near 50.16 per dollar early Friday, while the BIST 100 lost 1.26% on Thursday. Finance Minister Simsek expects Turkey's economy to grow 3.3% this year, per Reuters.
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what happened
Early Friday the lira changed hands at 50.1575 per dollar, slightly weaker than its 50.0475 close on Thursday, Reuters reported. The BIST 100 index ended Thursday down 1.26% at 11,333.27 points. Asian markets heavy in technology shares slumped overnight on worries about tighter regulation and a possible slowdown in spending on AI infrastructure, and US equities posted their sharpest fall since the tariff-driven selloff of April 2025.
Turkey's parliament ratified on Thursday a joint defence agreement with Pakistan and Saudi Arabia, which lets Ankara send military support to Riyadh as Houthi militants from Yemen, backed by Iran, attack the kingdom. Finance Minister Mehmet Simsek said the economy will expand 3.3% this year, roughly half a percentage point below the government's target, with growth seen picking up gradually in 2027.
why it matters
The global tech slide is the main backdrop for Turkish assets today, since emerging-market risk appetite usually weakens when US shares drop sharply. The lower growth outlook matters for budget and rate expectations, although the report gives no direct signal on either.
market impact
Lira and BIST 100: the global tech sell-off weighs on risk appetite for Turkish assets
- BIST 100 pressure down — a global tech sell-off reduces appetite for emerging-market equities
tags
instruments
sources
- Turkey - Factors to Watch on Nov 6 — Reuters, 6 November 2026 at 04:39 UTC
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