Turkey faces election runoff, Erdogan seen with momentum  

Reuters led reporting of the Turkish presidential elections, from initial reports showing President Erdogan’s comfortable lead to the subsequent local news of his lead dropping below 50%, making a runoff likely. With Erdogan facing the most credible challenge to his power in two decades, markets were watching the results closely. The lira and stock markets fell sharply as Erdogan’s position went against polling results in the runup to the election.