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US President Trump said Sunday that if Iran doesn't sign a deal, 'the whole country is going to get blown up,' with bridges and power plants being targeted. Trump's remarks intensify market volatility amid unclear peace negotiations.
European Union exports are facing headwinds from US tariffs, with declines continuing for a second consecutive month. The EU's trade surplus has shrunk and shipments to the US have declined significantly.
Istanbul Stock Exchange's BIST 100 index closed down 0.71% at 14,484.91 points. The market was weighed down by negative sentiment and geopolitical uncertainties.
Japan's two biggest airlines, All Nippon Airways and Japan Airlines, have moved forward the implementation of fuel surcharges in response to surging jet fuel costs driven by the Iran war. The Strait of Hormuz crisis is pushing energy costs higher across Asia.
The BIST 100 index shed 0.71% on Monday, closing at 14,484.91 points. Rising US-Iran tensions dampened risk appetite across emerging markets, pulling Istanbul equities lower.