Investment-fund crisis wipes out $32 bn in 12 days from Turkish stock market

Over ₺1.6 trillion ($32 billion) was wiped out from Turkey's stock market over the last 12 days following a liquidity crunch at investment funds. Authorities intervened by freezing operations and ordering the mandatory liquidation of 131 investment funds across seven asset management firms. The move affected more than 353,000 local investors and roughly $18.3 billion in assets under management.