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Turkey's Financial Markets Plummet on Fears of Political Instability

Turkey's financial markets plummeted Monday following elections in which the ruling Justice and Development Party, or AKP, lost its parliamentary majority. With the country heavily dependent on financial inflows due to a large current account deficit, analysts warn that a protracted period of political instability could trigger an economic crisis. The AKP’s loss of its parliamentary majority in Sunday’s elections and the prospect of coalition government were greeted by heavy...

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