Geopolitical pressure on the stock market

Developments in the Middle East had a negative impact on domestic markets as well as global markets.

The BIST 100 index, which completed Tuesday with a loss of more than 3 percent, started the new trading day with a 0.3 percent decline. The course of the index below the 200-day average also continued.

The sharp sales on Tuesday also led to an increase in margin calls on the futures side. According to Takasbank data, the size of margin calls was recorded as 594 million TRY as of Tuesday. Collateral completion calls reached the highest level of the last period with 952 million TL in August.

After Iran fired nearly 200 ballistic missiles at Israel on Tuesday, Israeli Prime Minister Benjamin Netanyahu vowed retaliation.

The ballistic missile attack began around 7:30 p.m. Tuesday Israel time, after the United States warned several hours earlier that an attack was imminent.

The Israel Defense Forces said several of the missiles were intercepted and one person was killed in the West Bank. Tuesday’s attack was a retaliation after Israel launched a series of attacks on Lebanon in recent days, killing Hezbollah leader Hassan Nasrallah in an airstrike in Beirut and sending ground forces across the border.

Iran also threatened retaliation after the assassination of Hamas’ political leader in Tehran in July.

There has been no independent assessment of the damage caused by the attack.

Israel and the United States said the attack was limited, while Iranian state television said 90 percent of the missiles hit strategic targets in Israel, citing information from the Revolutionary Guards.

Videos of the incoming strikes showed some of them penetrating the country’s vaunted air defense network. Speaking at the opening of the security cabinet meeting, Netanyahu said, “Iran made a big mistake tonight and will pay for it. The regime in Iran does not understand our determination to defend ourselves and our determination to retaliate against our enemies.” Hours later, the Israel Defense Forces announced new strikes on Hezbollah targets in Lebanon.