Banking stocks and sovereign dollar bonds slide for a second day and the cost of insuring exposure to Turkish debt rises further after President Tayyip Erdogan defied expectations in the presidential race
LONDON (Reuters) -Turkey's market rout deepened on Tuesday amid investor expectations that President Tayyip Erdogan will be able to extend his rule - and his unorthodox economic policies - into a third decade. | 08:14am
By Libby George and Canan Sevgili LONDON (Reuters) -Turkey's market rout deepened on Tuesday amid investor expectations that President Tayyip Erdogan .
Türkiye's market rout deepened on Tuesday amid investor expectations that President Recep Tayyip Erdogan will be able to extend his rule - and his unorthodox economic policies - into a third decade. Banking stocks and sovereign dollar bonds slid for a second day and the cost of insuring exposure to Turkish debt rose further after Erdogan defied expectations in Sunday's presidential race, securing just under the 50% threshold needed to win outright and giving him the lead over opposition rival, Kemal Kilicdaroglu, ahead of the May 28 runoff vote.