- It started in late July when a senior banker was hit with criminal charges and stripped of his license, and then spread when regulators began forcing lenders to hand over internal client communications. Over the next weeks, government authorities took over 496 companies - some with publicly held units - citing a hunt for coup plotters.
- In sum, it's a big turnaround for a country previously thought of as a free-market standout among emerging market nations, writes Yeliz Candemir in the WSJ.
- "The risks are disproportionately high,” says Renaissance Capital's Michael Harris, recommending his clients get their money out of the country.
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TUR -1.2% on the session, and off about 10% over the past three months.