US equities head south as Donald Trump lifts duties on Turkey

US equities head south as Donald Trump lifts duties on Turkey

On Friday, Wall Street declined because geopolitical tensions between Turkey and the United States generated worries in global markets.

The S&P 500 went down by 0.50% trading at 2,839.23. The Dow dipped by 0.65% reaching 25,343.40, while the Nasdaq Composite inched down by 0.50% showing 7,852.47.

On Friday, American leader announced that he would double duties on aluminum and steel imports from Turkey because the two countries clash on the diplomatic front.

Meanwhile, Turkish leader Tayyip Erdogan urged Turks to sell American dollars and gold for the national currency following a meeting between American and Turkish officials that ended up with no solution over the detention of an American pastor in Turkey. As a matter of fact, the Turkish lira dived to an all-time minimum.

Technology equities headed south after the morning bell. Apple dipped by 0.14%, Snap lost 1.22%, while Facebook sank by 0.80%. As for Dropbox, its equities dived by 9.32% following news that Dennis Woodside, their chief operating officer is retiring.

Additionally, Overstock.com managed to ascend by 23.06% having uncovered that private equity company GSR Capital is on the verge of investing about $374.55 million in both the company as well as its blockchain subsidiary tZero.

Additionally, American inflation was intact in July, reducing the pressure on the key US bank to speed up its tempo of interest rate lifts.

In the European Union, equities mainly tumbled.  The DAX headed south by 1.82% in Germany. Moreover, the CAC 40 lost nearly 1.43% in France. The FTSE 100 dipped by about 0.68% in Great Britain. As for the Euro Stoxx 50, it declined by 1.73%. In Spain, the IBEX 35 went down by 1.71%.

Gold futures managed to tack on by 0.20% hitting $1,222.30 a troy ounce.

 

 

Similar

US equities inch down

On Thursday, American equities decreased in volatile trade because optimism provoked by progress in US-China trade negotiations faded away, with market participants preferring defensive sectors, including utilities and real estate…

Latest news

Greenback edges down

On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera