Turkey Detains Erdogan’s Top Rival, Triggering Market Meltdown

WATCH: Turkish authorities detained President Recep Tayyip Erdogan’s most prominent rival Ekrem Imamoglu. Beril Akman reports.Source: Bloomberg

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By Beril Akman, Inci Ozbek, and Tugce Ozsoy

March 19, 2025 at 4:52 AM UTC

Updated on

March 19, 2025 at 3:40 PM UTC

Turkish authorities detained President Recep Tayyip Erdogan’s top political rival on corruption charges, triggering a selloff in stocks and the lira.

Istanbul Mayor Ekrem Imamoglu, the most popular Turkish politician and who could one day challenge the president’s rule, was taken into custody on Wednesday, sparking protests from members of opposition parties.