Turkish lira, stock market drop after Istanbul mayor and Erdogan rival arrested
1. Turkish lira fell to record low, impacting global markets. 2. Istanbul Mayor İmamoğlu arrested; rival of President Erdogan. 3. Charges against İmamoğlu termed as a coup by opposition party. 4. BIST 100 stock index dropped 7%, exacerbating market uncertainty. 5. Global markets may react to Turkey's political instability.