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Turkey facing turbulence after Erdogan poll blow


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Turkey on Monday entered a new period of political and financial turbulence after President Recep Tayyip Erdogan's ruling party lost its absolute majority in parliament for the first time since coming to power in 2002. The uncertainty swiftly rattled financial markets with the stock market tumbling in morning trade and the Turkish lira plummeting in value against the dollar. The Justice and Development Party (AKP) has dominated Turkish politics for the last 13 years but came well short of a majority in seats in Sunday's legislative elections due to a breakthrough showing by the the pro-Kurdish People's Democratic Party (HDP).

 

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