Turkey Defends Lira as Iran War Puts Markets Under Pressure

Turkish assets came under pressure on Monday as escalating tensions in Iran triggered a broader regional selloff and prompted the central bank to support the lira.

The Borsa Istanbul 100 Index closed 2.7% down. The banking index led the losses with a 7.4% slump, the most in about a year. The lira was little changed at 43.95 per dollar at 6:12 p.m.