Turbulence looms after split vote

Markets stumble and lira plummets against the US dollar as ruling party flounders

Turkish President Recep Tayyip Erdogan was to meet with his premier on Tuesday, as the country plunged into political turbulence after his ruling party lost its parliamentary majority for the first time since coming to power in 2002.

The uncertainty swiftly rattled financial markets, with stocks tumbling and the Turkish lira plummeting in value against the US dollar.