ANKARA (AA) - Borsa Istanbul slipped Monday as remarks by Federal Reserve chair Janet Yellen’s on a likely rates hike last Friday dampened investor sentiment.
BIST 100 index lost 1000.81 points, or 1.3 percent, to close at 76,118.84 points. Banking sector shares constituted the main driver of losses as the banking index saw a decline of 2.18 percent, compared to the Friday close.
The U.S. dollar was higher on Monday in several emerging markets after the Fed suggested rate hikes were coming.
The U.S. dollar /Turkish lira rate was relatively flat on Monday as it hovered around 2.9555.
Yellen emphasized Friday that the economy was closer to the Fed's goals of maximum employment and price stability, hinting a rate hike was likely in the coming months.
She failed, however, to provide any timing as to when the central bank would raise rates.