{"id":131912,"date":"2018-08-14T06:28:18","date_gmt":"2018-08-14T10:28:18","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=131912"},"modified":"2018-08-14T06:28:18","modified_gmt":"2018-08-14T10:28:18","slug":"global-equities-volatile-as-turkish-lira-in-crisis","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/08\/global-equities-volatile-as-turkish-lira-in-crisis\/","title":{"rendered":"Global equities volatile as Turkish lira in crisis"},"content":{"rendered":"
August 14, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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SP 500 logs fourth straight loss<\/h2>\n<\/div>\n<\/div>\n

US stock market\u00a0<\/b>slide continued on Monday led by energy and materials shares. The\u00a0S&P 500\u00a0<\/em>lost 0.4% to 2821.93.\u00a0Dow Jones\u00a0<\/a>industrial fell 0.5% to 25187.70. The\u00a0Nasdaq\u00a0<\/em>composite index slid 0.3% to 7819.71. The dollar strengthening stalled:\u00a0live dollar index<\/a>\u00a0data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, inched lower 0.04% to 96.287 but is lower currently. Stock index futures point to higher openings today.<\/p>\n

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Possibility of global financial contagion after the plunge of Turkish lira following US doubling of tariffs on steel and aluminum imports from Turkey last week has undermined investors\u2019 confidence worldwide. With positive earnings reports and economic data attesting to US economic health the trade war news is the main market driver.<\/p>\n

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DAX 30 opens higher than main European indices<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>extended losses on Monday as investors worried about negative impact of Turkish lira crisis on European banks. The\u00a0GBP\/USD<\/em>\u00a0continued the decline while\u00a0EUR\/USD<\/a><\/em>\u00a0edged higher and both pairs are moving higher currently. The Stoxx Europe 600 index lost 0.3%. The\u00a0DAX 30\u00a0<\/em>dropped 0.5% to 12358.74 and France\u2019s\u00a0CAC 40\u00a0<\/em>fell less than 0.1%. UK\u2019sFTSE 100\u00a0<\/a>slipped 0.3% to 7642.45. Indices opened 0.2% – 0.7% higher today.<\/p>\n

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Markets are under stress on concerns about spreading of Turkey\u2019s financial turmoil to its partners. The Turkish central bank assured its banks would be able to borrow foreign-exchange deposits from the central bank at one-month and one-week maturities while it refrained from raising interest rates.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Asian indices mixed after weak China industrial data<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are mixed today.\u00a0Nikkei\u00a0<\/em>gained 2.3% to 22356.08 as yen slide against the dollar continued. Chinese stocks are retreating after data showed retail sales, industrial output and urban investment all grew by less than forecast in July: the\u00a0Shanghai Composite Index\u00a0<\/em>is down 0.2% and Hong Kong\u2019s\u00a0Hang Seng\u00a0<\/em>Index is 0.6% lower. Australia\u2019s All Ordinaries Index is up 0.8% as the Australian dollar slide against the greenback slowed.<\/p>\n

\"HK50\"<\/p>\n

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Brent\u00a0<\/a>rises<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices\u00a0<\/b>are recovering today after an OPEC report top exporter Saudi Arabia had cut production. Saudi Arabia indicated it had curbed production by 200,000 barrels per day (bpd) to 10.288 million bpd in July. October Brent crude settled 0.3% lower at $72.61 a barrel on Monday.<\/p>\n

\nMarket Analysis provided by IFCMarkets<\/a><\/p>\n

Note:
\nThis overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or \u0430 recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.<\/p>

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<\/div>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets SP 500 logs fourth straight loss US stock market\u00a0slide continued on Monday led by energy and materials shares. The\u00a0S&P 500\u00a0lost 0.4% to 2821.93.\u00a0Dow Jones\u00a0industrial fell 0.5% to 25187.70. The\u00a0Nasdaq\u00a0composite index slid 0.3% to 7819.71. The dollar strengthening stalled:\u00a0live dollar index\u00a0data show the ICE US Dollar index, a measure of the dollar\u2019s strength against […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-131912","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/131912","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=131912"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/131912\/revisions"}],"predecessor-version":[{"id":131914,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/131912\/revisions\/131914"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=131912"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=131912"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=131912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}