ISTANBUL  – President Tayyip Erdogan appealed to Turks’ religious and patriotic feelings ahead of a major Muslim holiday on Monday, promising they would not be brought “to their knees” by an economic crisis that has battered the lira currency. The lira TRYTOM=D3 has tumbled some 40 percent this year, hit by worries about Erdogan’s influence […]

U.S. stock indexes fell on Monday as a plummeting Turkish lira weighed on shares of big U.S. lenders, but losses on the Nasdaq were limited by high-flying companies such as Apple and Amazon that hit record highs. The financials .SPSY slipped 0.63 percent as U.S. bank stocks, like its European counterparts, bore the brunt of […]

NEW YORK (Reuters) – U.S. stocks slid on Friday as a deepening economic crisis in Turkey dragged on bank shares and triggered a move out of riskier assets. The Dow and S&P 500 posted declines for the week following five straight weeks of gains, but the S&P 500 remains just 1.4 percent below its record […]

ISTANBUL — The White House issued a proclamation Friday evening officially announcing the doubling of steel tariffs on Turkey, slated to go into effect Monday. Earlier Friday, the Turkish lira suffered its worst one-day loss in a decade after President Donald Trump announced the United States would hike metals tariffs, prompting investor confidence to slump. Trump […]