Turkey ETF set for worst day in over three years after Erdogan's main rival detained

Exchange-traded funds focused on Turkey tumble, tracking selloff in domestic markets

U.S.-listed iShares MSCI Turkey ETF TUR.O drops 11.7% to $33.37, hitting more than four-month low and heading for worst session since December 2021

Turkish authorities detain Ekrem Imamoglu, President Tayyip Erdogan's main political rival

Main opposition party calls move "a coup against our next president"

Paris listing of Amundi MSCI Turkey UCITS ETF LTUR.PA down 12.1% at lowest level since November, also set for worst day since December 2021

Turkish lira TRYTOM=D3 hits new record low against U.S. dollar; BIST 100 index .XU100 drops 8.6% and set for worst day since February 2023

*TUR ETF trading at more than 12% discount to net asset value - data compiled by LSEG

With day's losses, TUR has turned negative for the year, now down 7% YTD