Global Market Tensions Rise Amid U.S. and Turkish Developments

Global markets are on edge as European shares fall following Wall Street's decline. Concerns about tariffs, growth, and geopolitical developments, notably in Turkey, are leading to significant market fluctuations. The Turkish lira saw a substantial drop after the arrest of President Erdogan's rival, influencing investor sentiment.

European shares experienced a downturn on Wednesday, mirroring an overnight selloff on Wall Street. Investor sentiment remains cautious due to ongoing concerns about growth impacted by tariffs and geopolitical instability.

Turkish markets were notably affected, with assets declining after a significant political arrest. This incident involved the detention of Istanbul's mayor, Ekrem Imamoglu, contributing to a pronounced slide in the Turkish lira, stocks, and bonds.

As the world watches the unfolding market reactions, attention shifts to the Federal Reserve's upcoming decisions, with expectations of maintaining current rate ranges amid a volatile economic landscape.

(With inputs from agencies.)