Firstly, a series of populist policy decisions by the president eroded investor confidence, triggering a selloff of the already structurally weak Lira. The benchmark stock index recently tested the all-time high recorded in January - though this has more to do with the inflationary effect of a weak currency than with earnings. Not only are they priced for strong growth going forward, but the likes of Facebook and Google are facing growing scrutiny over issues related to users' personal data.