div > div.group > p:first-child"> Turkey's benchmark stock index, the ISE National 100 index, dropped 5.2 percent and was on track for its worst day since July 18, when it fell 7.1 percent. The iShares MSCI Turkey ETF , which tracks Turkish equities in the U.S., fell 7.7 percent.
Turkey's move effectively kept foreign investors from betting against Turkish assets ahead of local elections that are largely seen as a referendum on President Recep Tayyip Erdogan. As of 12:19 p.m. in New York, the lira traded 1.8 percent lower against the dollar at 5.42.
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