Monday, 3 June 2013

Turkish stock market falls 10.5% as demonstrations escalate

The protests were originally sparked by plans to build on an Istanbul park.


Turkey's main share index closed 10.47% down following investor concerns over the escalation of anti-government protests over the weekend.

The Borsa Istanbul 100 share index fell to 76,983.69 points as investors feared the demonstrations could hit the economy.

Demonstrators nationwide clashed with police after water cannons and tear gases were used to control crowds.

The protests were originally sparked by plans to build on an Istanbul park.

As well as sharp falls in the stock market, there was also a big rise in the cost of insuring.

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