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Latest News Headlines
Bloomberg: Stocks, EM Currencies Drop as Turkey Fever Spreads: Markets Wrap
There were broad declines across equities on Monday and a sell-off in developing-nation currencies as the ongoing economic crisis in Turkey bled into global markets. The dollar climbed and the yen jumped. [more...]
Bloomberg: Lira Extends Slide as Erdogan Says Turkey in an Economic War
Turkey’s lira slumped for a fourth day to a new record low, with the sell-off spreading to other emerging-market currencies, after the country’s president showed no signs of backing down in a standoff with the U.S. [more...]
Bloomberg: Saudi Fund in Talks to Invest in Tesla Buyout Deal
Saudi Arabia’s sovereign wealth fund is working to be part of any investor pool that emerges to take Tesla Inc. private, as Elon Musk enters a week where his plan will draw added scrutiny from the electric-car maker’s board, advisers and investors. [more...]
Bloomberg: Hedge Fund Giant Splits With Morgan Stanley on Dollar Peak Call
Don’t bet on the U.S. dollar rally ending any time soon, says the world’s largest publicly traded hedge fund.
While investment titans such as Morgan Stanley and State Street Corp. wager the greenback’s rally this year is just about finished, Man Group Plc reckons it may have further to go. [more...]
Bloomberg: Turkey Policy-Making Paralysis Promises More Markets Tumult
While officials in Ankara, Istanbul and Washington have the means to stem the mayhem that sent the lira down 25 percent in the past month, the will to deploy them was absent through much of the weekend, with Recep Tayyip Erdogan maintaining his defiance toward the U.S. and financial-market orthodoxy in speeches Sunday. [more...]
Bloomberg: Italian Bonds Slump as Shock Waves From Turkish Turmoil Spread
Italy’s bonds led losses among euro-area sovereign debt markets as the Turkish currency turmoil fueled fears of a contagion effect across riskier assets. [more...]
Bloomberg: Losing Faith Fast, Istanbul Merchants Throw in Towel on the Lira
Even in Recep Tayyip Erdogan’s Turkey, patriotism has its limits. As economists speculate on the policy makers’ range of options in the face of a market meltdown, Turks are throwing in the towel on their national currency. [more...]
Reuters: Asian shares, euro trampled as Turkish rout spreads
Turkey’s lira recouped some of its losses as the country’s central bank took steps to stem the currency’s freefall while Asian shares were a sea of red as investors fled to safer assets such as the dollar, Swiss franc and yen. [more...]
Reuters: Oil dips as emerging market woes dim demand outlook
Oil prices slipped on Monday as trade tensions and troubled emerging markets dented the outlook for fuel demand, but U.S. sanctions against Iran pointed toward tighter supply ahead. [more...]
CNBC: What went wrong for Turkey? Its economy is 'in the midst of a perfect storm'
The free fall in the Turkish lira has stoked fears of an economic fallout that could spill over into other emerging markets and the banking systems in Europe. [more...]
CNBC: Bayer shares slide after Monsanto's Roundup cancer trial
Shares in Bayer plunged more than 10 percent to their lowest in almost two years after a California jury ordered the German company's subsidiary Monsanto to pay $289 million in damages last week. [more...]
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