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Stocks End Lower Amid Turkey Fears

Dow ends day down 125
By Newser Editors and Wire Services
Posted Aug 13, 2018 3:11 PM CDT
Stocks End Lower Amid Turkey Fears
Trader Michael Milano works on the floor of the New York Stock Exchange, Friday, Aug. 10, 2018.   (AP Photo/Richard Drew)

(Newser) – Stocks continued to fall as Turkey's central bank was unable to stop another plunge in the nation's currency, the AP reports. Banks and energy companies fell the most on Wall Street Monday. JPMorgan Chase gave up 1.6% and Exxon Mobil fell 1.1%. European and Asian markets also fell. Stocks are coming off their worst losses in a month as investors worry the financial upheaval in Turkey might spread. Turkey has resisted raising interest rates, which many see as necessary for shoring up the lira. The S&P 500 fell 11 points, or 0.4%, to 2,821. The Dow Jones Industrial Average lost 125 points, or 0.5%, to 25,187. The Nasdaq fell 19 points, or 0.2%, to 7,819. (Read more stock market stories.)

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