(Bloomberg) European stocks followed Asian shares lower after a news report stoked concern Turkey’s problems are spilling over into the euro zone. The common currency sank, while the dollar advanced alongside Treasuries. The Stoxx Europe 600 Index declined, dragged down by banks and miners, after the Financial Times reported that the ECB was concerned about the Turkish exposure of some lenders. U.S. equity futures declined alongside most Asian shares. The euro dropped to the weakest level in a year, while the dollar, yen and Treasuries all rallied. Turkey’s lira hit a fresh record low amid the souring of diplomatic relations with the U.S., while Turkish investors are looking to President Recep Tayyip Erdogan to calm their nerves when he speaks Friday for the first time since the latest sell-off began.
Stocks Fall With Euro on Turkey Contagion Concerns
This entry was posted in Syndicated. Bookmark the permalink.
