The Turkish military staged a failed coup attempt overnight Friday and announced on local television that they had taken control of the nation and were declaring martial law. The coup, in the words of one analyst interviewed by the BBC, "was over before it started," with coup leaders surrendering just hours after they had begun. Turkish authorities arrested some 130 members of the military. According to several sources, the coup was not backed by key senior members of the military, nor was it popular among the Turkish populace. Turkish President Recep Tayyip Erdogan, who has been president of Turkey since 2014, returned to Istanbul from his holiday to make a public statement, calling the coup "an act of treason and rebellion."
On the heels of the coup, a Lira selloff brought the Turkish Lira to its lowest daily drop since the 2008 global financial crisis, losing 4.6 % to 3.0157 per dollar. ETFs with exposure to Turkey include the following, according to ETFdb.com: