Turkish lira, stock market crash after Istanbul mayor and Erdogan rival arrested

Imamoglu, the popular 53-year-old mayor, was seen as the next opposition party candidate for the Turkish presidency and was expected to be nominated on Sunday. Charges for the arrest, which Imamoglu and his party reject, include terrorism and organized crime. In a statement, Imamoglu's Republican People's Party flatly rejected the charges against the Istanbul mayor, calling the move a coup. The Turkish lira fell to a record low against the dollar and the country's benchmark stock index dropped by as much as 7% following the surprise arrest of Istanbul mayor Ekrem Imamoglu — a rival of Turkish President Recep Tayyip...