Turkey has troubles: economic, political, and physical. Any one is bad enough, but all three simultaneously exacerbate each other. As a result, investors are driving down the price of the lira, Turkey’s currency, to new lows against the dollar. Investors are moving their money to safer securities, which is becoming more difficult because the graph of the lira is similar to charts from China, Brazil, Russia, Greece, and Venezuela, some of which border Turkey. Turkey has other neighbors that are destabilizing, as the refugee crisis demonstrates. With elections approaching, the situation isn’t expected to improve for months.
(Click on the graph for the link.)