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Turkey's Lira Hits Low as Coalition Talks Collapse

The Turkish lira sank to all-time low following Thursday’s sharp selloff, sending stocks and bonds tumbling as the country faces its second parliamentary election this year after talks between its two biggest parties collapsed. Market watchers had been hoping a grand coalition would be formed between President Recep Tayyip Erdogan's AK party and pro-business opposition CHP, but now the stage has been set for a snap election some time this fall. It's not good news for an economy...

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