LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

Wall Street dragged down by fall out from Turkey's plunging lira

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Tue, Aug 14, 2018
05:00 am
Reuters
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

U.S. stocks dropped on Monday as global jitters from Turkey`s plummeting currency spread to Wall Street, with the S&P 500 and the Dow falling for the fourth session in a row.

Financial stocks bore the brunt of Turkey contagion fears, with shares of Citigroup Inc , Bank of America Corp , Wells Fargo & Co and JPMorgan Chase & Co closing down between 0.8 percent and 2.2 percent.

A pledge by Turkey`s central bank to stabilize the plummeting lira
failed to calm investors` nerves. The currency has dropped 40 percent against the dollar so far this year.

"The market`s all about Turkey and the continuation of the trade issues out there," said Gary Bradshaw, portfolio manager of Hodges Funds in Dallas. "The market definitely wants to go higher but we`re having some curves thrown at us along the way that have caused a few day-to-day pull-backs."

But Apple Inc shares hit an all-time high as the first U.S. listed company to reach $1 trillion in market value continued a post-earnings rally. The stock finished the day up 0.6 percent.

Amazon.com also reached a record level, hitting $1,925 per share. The stock closed 0.5 percent higher.

The Dow Jones Industrial Average <.dji> fell 125.44 points, or 0.5 percent, to 25,187.7, the S&P 500 <.spx> lost 11.35 points, or 0.40 percent, to 2,821.93 and the Nasdaq Composite <.ixic> dropped 19.40 points, or 0.25 percent, to 7,819.71.

The second-quarter earnings season is approaching the finish line. Of the 455 companies in the S&P 500 that have reported so far, 79 percent have beaten analysts` estimates, according to Thomson Reuters I/B/E/S.

The CBOE Volatility Index <.vix>, a gauge of investor anxiety, rose for the third straight session to its highest in more than a month.

Netflix Inc announced the departure of Chief Financial Officer David Wells. The streaming service`s shares fell 1.3 percent.

Motorcycle maker Harley-Davidson Inc slid by 4.3 percent after President Donald Trump tweeted support for a boycott against the company.

Rite Aid Corp fell to more than a five-year low, extending its losses after the retail drugstore chain ended its merger with Albertsons. The stock closed down 5.4 percent.

Among gainers, Tesla Inc shares edged up 0.3 percent. Chief Executive Elon Musk said he was in discussion with Saudi Arabia`s sovereign wealth fund and other potential backers of his plan to take the electric carmaker private, but he said financing was not yet nailed down.

Nielsen Holdings jumped 12.1 percent after activist hedge fund Elliott Management disclosed it had taken a stake in the media and consumer research company.

Declining issues outnumbered advancing ones on the NYSE by a 2.09-to-1 ratio; on Nasdaq, a 1.88-to-1 ratio favoured decliners.

The S&P 500 posted 12 new 52-week highs and 8 new lows; the Nasdaq Composite recorded 65 new highs and 111 new lows.

Volume on U.S. exchanges was 6.34 billion shares, compared with the 6.43 billion average over the last 20 trading days.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

LATEST NEWS

Trading in Rakesh Jhunjhunwala Stocks II Technical’s decoded by Bonanza Portfolio

PUBG Mobile 1.3 global update: APK download link, check expected release date and more!

Easy Trip Planners IPO: Issue Details highlighted by ICICI Securities

MacKenzie Scott Marriage: Ex-wife of Amazon boss Jeff Bezos marries this man - Who is he? His profession? Read full letter

Yes Bank and SBI share price: Check what just happened to targets of these lenders

CBSE, CISCE board exams 2021: Education Minister talks about exam fever, how to score good marks, PM Modi's Pariksha pe Charcha 2021 and more

NEET 2021 exam: Students don't miss to check the latest update on exam dates, eligibility criteria, registration process and all you need to know before appearing in the exam!

MTAR IPO: Know allotment finalisation status, listing date and how to check subscription of shares

GAIL share price: ICICI Securities maintains buy rating with target price of Rs 164

Petrol-diesel rates, LPG cylinder price hike! Rs 21 lakh crore collected from excise duty, cess, Mallikarjun Kharge reveals

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved