Turkey ETF tumbles on Monday as neither incumbent President Recep Tayyip Erdogan nor his rival Kemal Kilicdaroglu won more than 50% of votes by Monday.
An exchange-traded fund that tracks Turkey’s stock market tumbled on Monday as the nation headed for a runoff vote after longtime leader President Recep Tayyip Erdogan pulled ahead of his rival, Kemal Kilicdaroglu, but fell short of an outright victory that would extend his two-decade rule of the NATO-member country.
The... An exchange-traded fund that tracks Turkey’s stock market tumbled on Monday as the nation headed for a runoff vote after longtime leader President Recep Tayyip Erdogan pulled ahead of his rival, Kemal Kilicdaroglu, but fell short of an outright victory that would extend his two-decade rule of the NATO-member country.
The country’s major stock index, the Borsa Istanbul 100 Index XU100 — which tracks the performance of 100 companies selected from the National Market, real-estate investment trusts and venture capital investment trusts listed on the Istanbul Stock Exchange — tumbled nearly 6%. The sharp selloff prompted the Istanbul exchange to halt trading briefly on Monday.
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