Global Stocks Drop Amid Concerns About Turkey
Global stocks fell, the euro declined and investors moved into the dollar amid fears that ongoing financial instability in Turkey will impact other markets.
Turkey Crisis Rattles Currency Markets, Pushes Dollar Higher
The Turkish lira lost more than 10% against the U.S. dollar, which rose to its strongest point in a year, as concerns about the health of Turkey's financial system rippled through global markets.
Turkey on the Economic Brink, Explained in a Dozen Charts
Investors fear Turkey is teetering on the edge of financial crisis as the country, caught in a storm of U.S. sanctions against its officials and unorthodox economic policies, is further buffeted by a strengthening dollar and higher U.S. interest rates.
Japan's Economy Revs Up Again After Stalling
Japan returned to solid growth in the April-June quarter, a trend economists said was likely to continue on the back of higher wages and consumer spending unless trade conflicts with the U.S. worsen.
Russia Boosts Global Oil Supply
The world's oil supply expanded in July on the back of surging Russian crude production, the International Energy Agency said, in a concrete sign of the unraveling of a nearly two-year-old OPEC-led agreement to curb output.
Russian Stocks, Ruble Fall Amid U.S. Sanctions
Newly announced U.S. sanctions-and the potential for a second round of actions in 90 days-roiled Russia's currency and blue-chip stocks as the country braced for further economic pain amid uncertainties over the Trump administration's commitment to enforcement.
Reserve Bank of Australia Lowers Inflation Forecast
The Reserve Bank of Australia on Friday revised lower its near-term inflation forecasts citing the impact of falling services cost, but said the dip would be temporary.
Evans: Economy Supports Fed Moving to More Normal Rate Environment
Chicago Fed President Charles Evans said a strong economy, low unemployment and rising inflation mean the central bank should be moving closer to a more normal interest-rate environment.
Nasdaq Extends Winning Streak to Eighth Session
The tech-heavy index shrugged off declines in other stock indexes in the latest sign that investors are retaining their faith in companies like Apple and Amazon.com.
Economists See Two More Fed Rate Increases This Year
Most private economists see the Federal Reserve raising short-term interest rates two more times this year, once in September and again in December, according to The Wall Street Journal's monthly survey of forecasters.