S&P 500, Dow slip as Turkey's currency woes spread
S&P 500, Dow slip as Turkey's currency woes spread
Turkey has plan to ease market concerns, minister says, as lira plunges again
14 August, 2018, 13:14
"If you pressure us through the dollar, we will look for other ways to carry out our works", he said. USA indexes are coming off their worst losses in a month as investors anxious about financial upheaval in Turkey which has sent that country's currency, the lira, plunging.
European markets were slightly lower Monday, following steeper declines in Asia.
Turkey yesterday announced it would take legal action against hundreds of social media accounts it said were "creating a negative perception" of the economy amid the ongoing plummet of the Turkish lira.
Stocks were on a five-week winning streak before last week.
Raising interest rates was a "tool of exploitation" against business, he said. But there are other factors weighing down the lira.
Thomas Cook also lost 2.4 percent and EasyJet retreated 1.4 percent. The Argentine peso sank to an all-time low amid investor caution and a corruption scandal involving former government officials.
In the first move on Monday to reassure the markets and to limit the damage from the fall of lira, the Ankara-based regulator said it will "take all necessary measure" and eased rules that govern how commercial banks in the country manage their lira and foreign currency liquidity. Turkey considers the control of regions in northern Syria by the SDF and the YPG a direct threat against its national security due to the ongoing conflict with the PKK since early 1980 that killed more than 40,000 people and cost billions to the country's economy.
"We will give our answer, by shifting to new markets, new partnerships and new alliances", he said.
"The US is a relative beacon of strength with stable to improving economy".
Rockets' Daryl Morey welcomes Carmelo Anthony in tweet From there he will begin to work with Chris Paul , James Harden and the rest of the team to figure out how he will be used. Anthony has traveled to Houston and will finish his physical Monday before signing the contract, league sources said.
See the first image of Liu Yifei as Disney’s Mulan Another potential change is that we're still not sure if Disney intends to make this a musical like their other recent remakes. "Production on Disney's " Mulan ", a live-action adaptation of the studio's 1998 animated feature , has begun".
WALL STREET: A stronger dollar hurt exporters, whose goods will get more expensive overseas.
The S&P 500 index lost 11.35 points, or 0.4 per cent, to 2821.93 after a drop of 0.7 per cent on Friday. The Dow Jones Industrial Average slid 125.44 points, or 0.5 per cent, to 25,187.70.
Investors are anxious that Turkish companies could struggle to repay loans in dollars and euros - a debt pile that only grows as the lira falls. But they said the US tariff hike on Turkish steel at a time of "considerable stress" tells emerging economies not to expect Washington's help to calm their markets.
Turkey's market carnage rippled across emerging markets, sending both stocks and currencies toward their lowest levels in a year.
Stocks were on a five-week winning streak before last week, and strong corporate earnings reports were a big factor. "We will be taking the necessary steps with our banks and banking watchdog in a speedy manner". He called on the Turkish ambassadors to continue working in "a spirit of mobilisation" and urged them to work more efficiently and in much more result oriented way in the new period. Monsanto said government agencies and hundreds of studies have concluded Roundup is safe.
Prices fell earlier in the session by more than $1 a barrel after inventories at the Cushing, Okla., delivery hub for WTI rose by about 1.7 million barrels in the week through August 10, traders said, citing data from market intelligence firm Genscape.
Trump has been criticising the company since June, when it said it would move more manufacturing out of the U.S. to avoid European tariffs. The EU put new taxes on USA motorcycles in response to the Trump administration's tariffs on products imported from Europe.
UnitedStates crude oil fell 0.6 per cent to US$67.20 a barrel in NY.
For the first time in history, the Indian Rupee hit a record low breaching the Rs 70 mark against U.S. dollar on Tuesday. JP Morgan economist David Hensley said that strains in most other emerging markets would be contained.
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Ekrote said that the flight data recorder - commonly known as the airplane's "black box" - was burned but otherwise intact. This is aviation in America: The doors to the airplanes are not keyed like a vehicle , there's not an ignition.
Still others pointed out that this is not the first time a "gay" character has been played by a straight actor in Disney. If Scarlett Johansson wasn't allowed to play a trans man then Jack Whitehall shouldn't be allowed to play a gay man.
The Duchess of Sussex's father said he was "upset" by Harry's tirade, which came as he recovered in hospital from a heart attack. Thomas claims Harry called him before the story about the photos went public, and asked if the report was true.
Fans and celebrities alike are paying homage to Franklin in hopes she will regain her strength despite the odds. Through her lengthy career, Franklin accumulated 18 Grammy awards, including one for Lifetime Achievement.
You have to know one thing: a player that gets chosen and is happy, you always feel more comfortable than when he's not happy . Pogba was also asked about the contrast playing for Red Devils and Les Bleus. "I don't think about signings".
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If all goes well, firefighters still don't expect to the have the massive blaze completely contained until sometime in September. The Holy Fire named for Holy Jim Canyon, where it began Monday, grew to almost 33 sq miles (85 sq km) by Saturday morning.
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Turkey’s Central Bank to Support Embattled Lira
Why does this matter to the world? So far, however, Turkey has not sparked a global rout in emerging markets. But the bank did not increase interest rates, which would help contain inflation while supporting the lira .
Taliban Fighters Rout Afghan Security Forces Across Country
Barmak said 70 police were killed in the fighting, while a security official earlier said about 100 soldiers and police had died. Ghazni's hospitals are running out of medicines and people are unable to safely bring casualties, Peeperkorn's statement added.
Trump claims win in US House race, but Democrat surge looms
But the primary numbers show a decided Democratic advantage heading into November in what was already rated a tossup contest. Many Democratic candidates have refused to back Pelosi for speaker if their party takes control of the House in November.
US stocks turn lower, reversing morning gains
There is no economic reason ... "The aim of the operation is to make Turkey surrender in all areas from finance to politics". The United States is the biggest destination for Turkish steel exports with 11 percent of the Turkish export volume.
President Trump, V.P. Pence to visit Upstate New York
Trump's promise to provide more certainty for military funding, after years of budget "sequestration" caps under President Obama. Earlier Trump tweeted that he was "looking forward" to talking to America's "great heroes" and signing H.R. 515, the " John S.
Omarosa Releases Tape Of Call With Trump
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