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Turkish Stocks, Bonds Slide as Election Appears Headed to Runoff

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Turkey’s lira weakened and its benchmark stock index fell as the presidential election between incumbent Recep Tayyip Erdogan and his opponent appeared set for a runoff WSJWhatsNow

With more than 91% of votes counted, incumbent President Recep Tayyip Erdogan had won 49.49% of votes, while rival Kemal Kilicdaroglu claimed 44.7%, Turkey’s election chief said. Neither candidate reached the 50% threshold required to avoid a runoff, which would take place on May 28.

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