Turkey is considering taxing gains from stock and crypto asset investments as part of a fiscal austerity push, according to Wu.com. The Turkish stock market and lira fell on the news. According to sources, Turkish Finance Minister Mehmet Simsek discussed the plans at a ruling party meeting over the weekend, emphasizing the need for appropriate taxation of all financial income, but no final decision has been made yet.

Since Simsek took office a year ago, Turkey's central bank has raised interest rates from 8.5% to 50% to control inflation and stabilize the economy. The government predicts a budget deficit of 6.4% of economic output this year.