According to the latest trading data, Turkey's main stock index Borsa Istanbul 100 (BIST 100) fell by 09:55 Moscow time by 6.39%, reaching 4489.58 points. However, by 10:55 Moscow time, the decline slowed down to 4.3% (4588.75 points), according to information published by RBC.
The fall in the market began after reports that in the presidential elections in Turkey, none of the candidates could get more than 50% of the vote, and now the second round of elections scheduled for May 28 is scheduled in the country.
Recep Tayyip Erdogan, the current president of Turkey, received 49.35% of the vote in the first round of elections, while his main opponent and opposition candidate Kemal Kılıçdaroğlu won about 45% of the vote.
Hasnain Malik, head of equity research at research firm Tellimer, commented: "This is a big disappointment for investors who were hoping for opposition candidate Kılıçdaroğlu's victory and an expected return to mainstream economic policy." This quote comes from Reuters.