Photographer: Ismail Ferdous/Bloomberg

Turkey Stocks and Bonds Extend Retreat After S&P’s Rating Cut

  • Stock index on track for worst week since November 2008
  • 10-year bond yield rises to highest level in two months

Turkish stocks and bonds tumbled on concern further credit downgrades will spark an exodus of capital after President Recep Tayyip Erdogan imposed a three-month state of emergency on the nation following the failed weekend coup.

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