US Stocks Turn Lower as Banks, Energy Companies Slide

Monday, 13 August 2018 23:40 WIB

DOW JONESS & P 500 Standard & Poor's 500Saham ASNasdaq


Stocks gave up an early gain and moved lower in midday trading Monday as banks, energy and industrial companies slid. Asian markets fell overnight, while European markets were slightly lower.

U.S. indexes are coming off their worst losses in a month as investors worried about financial upheaval in Turkey which has sent that country's currency, the lira, plunging.

On Monday Turkey's central bank announced measures to help that country's banks manage their liquidity, but the Turkish lira and Turkey's stock market continued to slide anyway.

The S&P 500 index lost 5 points, or 0.2 percent, to 2,827 as of 12:10 p.m. Eastern time. It fell 0.7 percent Friday. The Dow Jones Industrial Average slid 93 points, or 0.4 percent, to 25,219. The Nasdaq composite was unchanged at 7,839. The Russell 2000 index of smaller-company stocks sank 9 points, or 0.6 percent, to 1,676.

Global markets skidded Friday as investors worried that Turkey's problems could cause trouble in other countries, but many analysts say that isn't likely.

Source: apnews


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