Turkey Meltdown: Lira Implodes As Panicked Sellers Spark Global Contagion

Worries over a fragile Turkish economy and the risk of contagion in Europe unnerved investors on Friday and sent the lira to a record low against the US dollar......»»

Stocks are falling this morning as the Turkish lira dropped more than 10% overnight, raising concerns about contagion......»»

(Photo by Getty Images) Turkey's currency crisis has lurched on to the global stage, denting European and US stocks as fears of contagion rise. The country's economy was already in trouble, but the lira.....»»

Turkey's lira pulled back from a record low of 7.24 to the dollar on Monday after the central bank pledged to provide liquidity and cut reserve requirements for Turkish banks, but its meltdown continued to rattle global markets......»»

U.S. stock index futures fell on Monday as a meltdown in Turkish lira weighed on shares of big U.S. lenders and triggered a widespread selloff in global equities......»»

Futures Rebound Despite Turkey Slaughter Global markets, bond yields slid and the Turkish lira plunged towards a record low against on Monday after President Tayyip.....»»

Global crypto exchange Huobi plans to roll out a fiat gateway in Turkey that could increase access to more than 250 cryptocurrencies for local investors......»»

Turkey Exposes Central Bank Incompetence Authored by Tom Luongo, Last year I asked whether Turkey would be “City Zero in Global Contagion.” That question was bas.....»»

U.S. President Donald Trump’s latest threat to ramp up trade tariffs on China kept global share markets weak on Tuesday, while Turkey's lira was back in trouble as concerns about its politics erupted again......»»

World markets steadied on Tuesday after being rattled by U.S. President Donald Trump’s latest threat to ramp up trade tariffs on China, though Turkey's lira was back in trouble as concerns about its politics erupted again......»»

Authored by Tom Luongo, Last year Turkey’s.....»»

Global bond yields continued to spiral lower on Thursday as recession fears fed expectations of more policy easing by major central banks, while Turkey's lira took a 5 percent beating as pressure ratcheted up on its volatile markets again......»»

The Turkish lira hit a new all-time low against the U.S. dollar on Friday, adding the cherry on top of a week filled with negative headlines for Turkish assets. On Tuesday, S&P Global Ratings downgraded Tu.....»»

While Turkey may have repatriated all of its gold held at the NY Fed, or at least moved it from New York to the BIS tower in Basel as we reported overnight, what markets are far more concerned about is the ongoing inactiv.....»»

FX traders were stunned - and TRY longs painfully crushed and stopped out - after the Turkish central bank unexpectedly kept the one-week repo rate unchanged at 17.75% (the overnight lending and borrowing rates were .....»»

New U.S. sanctions drove down Russia's ruble, while worries that Turkey was sliding into a full-blown economic crisis battered the lira on Thursday, while global equity markets largely shrugged off these events to edge higher......»»

A plummeting Turkish lira sent ripples through global equities and emerging markets on Friday, as rising fears of a wider fallout sent investors scurrying for the safety of assets such as the yen and U.S. government bonds......»»

For once it's not about trade wars... but the alternative is hardly better. European stocks tumbled most in a month, following Asian shares lower following contagion fears that Turkey’s economic problems will spill .....»»

U.S. government bo.....»»

U.S. stocks were set to open lower on Friday, as a plunging Turkish lira rattled global markets due to concerns over the country's economy and a deepening rift with the United States......»»