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Turkey’s Financial Markets Shudder as Earthquake Economic Costs Mount
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wsj.comTwin earthquakes in Turkey this week have rocked local financial markets and raised concerns about the nation’s fragile economy, which is already struggling with high inflation and a reliance on foreign capital.
Stock-market officials suspended trading on Wednesday for five days, until the evening of Feb. 14. The benchmark Borsa Istanbul 100 has fallen 16% this week, with almost half of that decline coming early Wednesday before trading was halted. The country’s benchmark borrowing costs have risen by roughly half a percentage point since the earthquakes hit Turkey and northern Syria on Monday.
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