Erdogan's Win Spells More Pain for Turkish Assets

Supporters of Turkish President Recep Tayyip Erdogan celebrate in Istanbul.

Photographer: Kerem Uzel/Bloomberg

Turkey’s Recep Tayyip Erdogan an election victory that many pollsters thought unlikely just weeks ago, raising the prospect of more friction with foreign investors.

Erdogan won with 52% of the vote in a presidential runoff against Kemal Kilicdaroglu on Sunday, giving him another five-year term.