Turkey ? Prime Minister Recep Tayyip Erdogan appealed for calm Monday after the stock market dropped amid a deepening conflict between his Islamic-oriented government and pro-secular forces backed by the military.

Turkey, a candidate for European Union membership, has been recovering from a 2001 financial crisis, curbing inflation and pushing ahead with banking reform and other initiatives backed by the International Monetary Fund.

At least 700,000 pro-secular demonstrators protested against the government Sunday, and opposition and business leaders are calling for early general elections to replace the government. The military, which has led several coups in past decades, has hinted at intervention in the crisis.

Amid the turmoil, Turkey’s benchmark IMKB-100 index closed down 4.01 percent Monday after opening with a drop of 7.99 percent.