Turkish President Recep Tayyip Erdogan is showing no signs of backing down in a standoff with the US that rattled markets. As investors worry about Turkey sliding toward a full-blown financial crisis, the big question now is how far the pain may spread.
“I call out to those in the United States. It is a shame. You are trading a strategic NATO ally for a pastor,” Erdogan told a rally on Saturday in Ordu, referring to the US decision to sanction Turkey for its imprisonment of an American priest. “You cannot tame our people with threats.”