A multibillion-dollar stock-market scandal has roiled Turkey, heaping fresh stress on the country’s troubled economy. The implosion of a series of investment funds that held billions of dollars has sent shockwaves through Turkish financial markets, deepening concerns over economic instability. The crisis has raised questions about oversight and investor protections in Turkey’s rapidly expanding financial sector.

Authorities are now under pressure to respond as the fallout continues to ripple across the region.