At the opening of Borsa Istanbul today, BIST 100 index decreased by 136.64 points and 1.27 percent compared to the previous close, falling to 10,661.45 points.
The banking index lost 1.66 percent and the holding index lost 1.11 percent. While all sector indexes declined, banking and construction lost the most.
BIST 100 index, which was on an upward trend yesterday, closed the day at 10,798.09 points, up 1.5 percent compared to the previous close.
GLOBAL MARKETS
Analysts noted that global stock markets followed a negative course due to concerns that economic activity in the US could slow down more sharply than expected and news flow that the Bank of Japan (BoJ) may raise interest rates further, and reported that the data in the US employment report became the focus of investors today.
Although the US Federal Reserve (Fed) gave the green light on Wednesday to interest rate cuts starting in September, the data released yesterday caused recession concerns to have an impact on asset prices.
While these developments significantly affected the pricing in the money markets, question marks arose regarding the magnitude of the Fed's moves.
Accordingly, while it is almost certain that the Fed will cut interest rates by 75 basis points in total by the end of the year, there is a 30 percent chance that a 50 basis point rate cut could be made at the meeting in September.
Analysts stated that the employment report data in the US will be followed today and noted that technically, 10,650 and 10,500 points are support and 10,800 points are resistance in the BIST 100 index.