On Wednesday, the Turkish stock market fell sharply, and the Istanbul Stock Exchange 100 Index fell 6% intraday, triggering a market breakdown mechanism. Among them, the main bank index fell 7.7%. Investors made a net redemption of 55 billion liras from Turkish investment funds on Wednesday, according to financial data platform Fintables. The sell-off comes after Pusula Portfoy announced on Tuesday that some of its investment funds and money market funds were unable to meet redemption requests. The data shows that investors have withdrawn about 129 billion lire from Pusula Portfoy's funds since the end of August. This round of redemption came after the Turkish Capital Markets Commission restricted funds that heavily held less liquid stocks, putting pressure on Pusula to meet redemption requirements. Banu Kivci Tokali, founder and economist at BVeri Consulting, said that market concerns about the stability and liquidity of fund collateral are growing, which seems to increase the risk that other funds and companies may also face difficulties. Arguably, the increasing loss of confidence in the industry played an important role in the emergence of a wave of market sell-offs.

On Wednesday, the Turkish stock market fell sharply, and the Istanbul Stock Exchange 100 Index fell 6% intraday, triggering a market breakdown mechanism. Among them, the main bank index fell 7.7%. Investors made a net redemption of 55 billion liras from Turkish investment funds on Wednesday, according to financial data platform Fintables. The sell-off comes after Pusula Portfoy announced on Tuesday that some of its investment funds and money market funds were unable to meet redemption requests. The data shows that investors have withdrawn about 129 billion lire from Pusula Portfoy's funds since the end of August. This round of redemption came after the Turkish Capital Markets Commission restricted funds that heavily held less liquid stocks, putting pressure on Pusula to meet redemption requirements. Banu Kivci Tokali, founder and economist at BVeri Consulting, said that market concerns about the stability and liquidity of fund collateral are growing, which seems to increase the risk that other funds and companies may also face difficulties. Arguably, the increasing loss of confidence in the industry played an important role in the emergence of a wave of market sell-offs.