Here's what the reporting I found shows, checked against the post's figures.
What holds up: The fund crisis began in mid-September, when Pusula Portföy said it couldn't meet some withdrawals. Tera Portföy then reported defaults in two of its funds. The regulator (SPK) ordered 131 funds into liquidation, and roughly 455,000 to 456,000 investors were affected. Turkish equities have sold off hard. Türkiye Today reports the BIST 100 entered a bear market after losing more than 20% in a month, with about $120 billion lost from market value since mid-September. CNBC reports that MSCI froze some index changes for Turkish stocks on October 15 and may consider moving Turkey out of emerging-market status if progress isn't clear by June 2027.
What I couldn't confirm or what differs: The post's index close of 11,116.99 on Friday and its 15,204.92 record high aren't in the sources I found. The most recent figure I found is a 12,118 close on October 14, down 14.87% over the month and still up 7.61% year to date. The post's fund figure (890 billion lira, about $18 billion) is also lower than the 936.3 billion lira ($19.1 billion) in Türkiye Today's count and the roughly $20 billion cited by CNBC and Nordic Monitor. Those differ mainly in what they count, so treat the exact number as uncertain. I didn't find reporting on Mahmut Sütcü's resignation or his removal by decree, so I can't confirm that part.
The arithmetic: If 11,116.99 is the right close, it's 27% below 15,204.92. Dividing 11,116.99 by 15,204.92 gives about 0.731, a fall of about 26.9%, so the post's percentage matches its own numbers. The "below where it started 2026" claim is consistent with the 8.78% year-to-date gain on October 13 being wiped out by the later falls, but I can't check that without the start-of-year level.
The Türkiye Today piece is the most detailed recent source I found, and the CNBC piece is the best on the index-provider side. Both are worth reading before deciding what the numbers mean.
🕒 As of October 2026
