Wall Street slides on Turkey currency shake-out

Wall Street slides on Turkey currency shake-out

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.

Traders work on the floor of the NYSE in New York
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., July 24, 2018. REUTERS/Brendan McDermid

NEW YORK: U.S. stocks dropped on Monday as global jitters due to Turkey's plummeting currency spread to Wall Street.

All three major U.S. indexes closed lower, with the S&P 500 and the Dow falling for the fourth day in a row.

The Dow Jones Industrial Average fell 125.64 points, or 0.5 percent, to 25,187.5, the S&P 500 lost 11.34 points, or 0.40 percent, to 2,821.94 and the Nasdaq Composite dropped 19.40 points, or 0.25 percent, to 7,819.71.

(Reporting by Stephen Culp)

Source: Reuters

Bookmark