Aug
12
Turkish Lira’s Fall Raises Concerns for Emerging-Market Investors
ByCurrency’s drop after U.S. boosts tariffs on steel, aluminum adds to market uncertainty
Emerging-market investors are preparing for an unsteady start to the week after a weekend marked by heightened rhetoric, renewed trade tensions and a deeper slide in the Turkish lira.
The lira sank to a record low on Sunday evening after collapsing last week. The currency is now down more than 40% this year, while bond yields have skyrocketed, pushing Turkey onto the edge of a financial crisis. Turkey’s vulnerabilities include high levels of foreign-currency debt, a current-account deficit and rising borrowing costs…
Turkish Lira’s Fall Raises Concerns for Emerging-Market Investors
