U.S. increased the tariffs on steel import from Turkey from 25% to 50% because of Turkey attack to Syria. At the same new sanctions were imposed on Turkish authorities.
This issue with the weakness of Turkish Lira caused the export steel price of Turkey and the global steel prices including CIS steel price index to decrease.
Unexpectedly, no sanctions are imposed on banks and financial issues so there is no significant effect on currency and stocks. Index for BIST100 increased 1.36% and Turkish Lira also strengthened 0.58%.
