Published: Sun, August 12, 2018
Economy | By Shawn Conner

Wall St slips at open on Turkey turmoil

Wall St slips at open on Turkey turmoil

The S&P 500 is up 159.67 points, or 6 percent. Advancing issues outnumbered decliners by a 1.72-to-1 ratio on the Nasdaq.

Investors fled to safe-haven assets, pushing the dollar to a 13-month high and weighing on US bond yields that slipped to a three-week low.

The S&P 500 is up 13.23 points, or 0.5 per cent. Tech stocks have been at the center of a sharp recovery in the S&P since a market rout in February, driving the index close to its record high. "You worry about the collateral damage".

The Dow Jones Industrial Average index slid 245 points, or nearly two percent, during early trading hours on Wall Street.

Sarri admits £71 million Kepa is not at same level as Courtois
France's World Cup victor scuffed a volley into the ground and it took a deflection, before looping into the corner. Mark Lawrenson has delivered a withering verdict on Chelsea FC ahead of the new Premier League season.

For the week, the Dow fell 0.6 per cent and the S&P 500 dipped 0.3 per cent.

Turkey's lira touched a record low against the dollar, weakening 4 percent in 24 hours after meetings in Washington looked to have made little progress in mending a row over Ankara's jailing of an American pastor.

Markets in Europe were also turbulent with Germany's DAX falling two percent, French CAC 40 falling nearly two percent, and Britain's FTSE 100 declining 0.8 percent.

Tesla Inc's shares also fell to a two-day low and wiped out all the gains fuelled by Chief Executive Elon Musk's recent tweet announcing a plan to take the company private. The number of Tesla shares sold short rebounded and are now higher than before Chief Executive Elon Musk on Tuesday proposed taking the electric vehicle maker private, according to data from financial technology and analytics firm S3 Partners.

Campus Radicals Fight Police at 'Largely Peaceful' Vigil in Charlottesville
The rally turned violent as protesters clashed with counterprotesters, ultimately resulting in the death of Heather Heyer , 32. Bro said people who hear her speak, or who know about what happened to Heyer, contact her and say they've been inspired.

Economic data showing USA consumer inflation rose steadily in July, supporting the case for another interest rate hike next month by the Federal Reserve.

The Nasdaq composite declined 52.67 points, or 0.7 per cent, to 7,839.11.

"We have been in a tug of war between broadly positive economic conditions and the uncertainty of trade risk", said Bill Northey, senior vice president at U.S. Bank Wealth Management in Helena, Montana.

1600 evacuated as flash floods threaten campsites
The storms which caused the floods came after a period of unusually hot weather in southern France and much of Europe. UK Met Office meteorologist Marco Petagna said almost 3in (7.6cm) of rain fell over the area in 24 hours.

Like this: