Turkey moves to calm markets after fund crisis sparks selloff

Turkey's government stepped in to calm nervous markets on Wednesday after a fund crisis triggered a wave of selling. The crisis began when a major fund failed to meet its obligations. That set off a selloff, with investors rushing to unload Turkish assets. Officials responded quickly. They pledged to support the markets and said they would take steps to protect investors. The moves appeared aimed at restoring confidence and preventing the panic from spreading. The selloff shows how quickly trouble at a single fund can shake an entire market. Turkey has faced similar pressure before, and its economy remains sensitive to any sign of financial strain. Authorities say they are watching the situation closely. It is not yet clear whether their efforts will be enough to steady the markets in the days ahead.