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Markets stage a mid-August pivot, on the watch for fallout from Turkey’s currency crisis

“Strategists expect emerging markets to remain under pressure when Asian markets open early Monday” writes Patti Domm for cnbc.com. A new air of cautiousness is hanging over markets, and it could continue in the week ahead as investors navigate Turkey’s currency collapse and the fallout across global markets.But the tumult in Turkey and spillover in the emerging markets could dominate trading early in the week.The Turkish lira was down about 14 percent Friday alone, and global markets reeled on worries that Turkey’s declining economic state and the collapse in its currency would hit the European banking system and spread across emerging markets.
 
Source: cnbc.com



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