Turkey's market rout worsens amid protests

ISTANBUL, March 22 (Reuters): Turkish stocks were set for their worst week since the aftermath of 2008's Lehman Brothers collapse on Friday as concerns about this week's detention of President Tayyip Erdogan's main political rival refused to subside.

The lira was set for a 4 per cent weekly slump despite aggressive action from Turkey's central bank in recent days while the latest selloff in stocks triggered two market-wide circuit breakers on Borsa Istanbul

The move against Istanbul mayor Ekrem Imamoglu was called a coup attempt by the opposition and appears to cap a months-long legal crackdown on opposition figures which has been condemned as a politicised attempt to silence dissent.

Turkey's lira, stocks and bonds have suffered since Wednesday when authorities detained Imamoglu, seen as Erdogan's main political rival. Protests erupted and thousands marched nationwide.

By 1450 GMT the benchmark BIST-100 index was trading 7.82 per cent lower, and the banking index had fallen 9.37 per cent, after trading resumed at 0857 GMT.