US President Donald Trump, who was in Ankara for the NATO Summit, met with President Recep Tayyip Erdoğan at the Presidential Complex. The talks focused on Turkey's purchase of F-35 fighter jets and the US CAATSA sanctions.
After the meeting, Erdoğan said: "The F-35 issue is not new for us. We have secured a commitment for all five aircraft. Mr. Trump has also given us his word on this matter." US President Trump said: "Under your leadership, Turkey has become a very strong military country. I can say we may be able to lift the sanctions."
US-Iran conflict in the Middle East sends oil prices soaring
Meanwhile, military tension between the US and Iran in the Middle East flared up again. The US Central Command (CENTCOM) announced on social media that more than 80 Iranian targets had been struck. Iranian Parliament Speaker Mohammad Bagher Ghalibaf reacted by stating that the attacks violated a memorandum of understanding.
Amid the rising tension in the region, Brent crude oil prices rose 5.2% to $75.8 per barrel, marking the fastest daily increase since April 29.
Inflation, interest rate hike concerns ahead of Fed minutes
The jump in oil prices reinforced expectations for the Federal Reserve's monetary policy by increasing inflationary pressures. Markets now see a 77% chance of a rate hike in September. Investors focused on the Fed meeting minutes to be released today.
News that Chinese startup DeepSeek has developed its own artificial intelligence chip weighed on shares of US semiconductor companies. Marvell Technology fell 7.5%, Lam Research lost 6.9%, and AMD and Applied Materials each dropped 6.5%.
European stock markets close lower, German industrial output rises
In European markets yesterday, sellers dominated except in the UK. German industrial output in May rose 0.9% month-on-month, beating estimates. The FTSE 100 gained 0.1%, while the CAC 40 fell 0.51%, the DAX 40 lost 1.37% and the FTSE MIB 30 dropped 0.95%.
The yield on the US 10-year Treasury note rose to 4.56%, while the dollar index climbed to 101.2. A stronger dollar and higher interest rates pushed gold prices down to $4,106 per ounce.
On Borsa Istanbul, the BIST 100 index closed up 0.50% at 14,497.37 points. Analysts said news from the NATO Summit and the Fed minutes will determine market dynamics.
