The Turkish lira recovers ground after Friday's sell-off as fears of a possible US recession batter markets
Turkey's lira was in recovery mode on Monday after plunging as much as 5 percent in the previous session, on Friday, March 22.
Weak economic data from Europe triggered a worldwide sell-off on Friday which worsened after more disappointing numbers from US came in, fanning global growth fears. MSCI's index for emerging market shares fell 1.4 percent, on track to record its biggest one-day fall this year with indices falling across the board led by Asia.
"Conceptually it should be supportive if we now assign a slightly lower likelihood of sanctions ," said Guido Chamorro, portfolio manager at Pictet Asset Management.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why is the Dow falling? Banks and tech stocks drag down market on Wall StreetU.S. stocks moved broadly lower on Wall Street Friday, dragged down by banks and industrial companies.
Read more »
Wall Street stumbles as investors spooked by signs of economic slowdownWall Street stocks sold off sharply on Friday, with all three major U.S. stock i...
Read more »
Wall Street falls at open on global growth worriesU.S. stocks opened lower on Friday after downbeat data from Europe fueled fears ...
Read more »
Stocks making the biggest moves midday: Tiffany, Nike, Avon Products & moreThese are the stocks posting the largest moves midday Friday.
Read more »
Wall Street tumbles on global economic slowdown fearsWall Street stocks sold off sharply on Friday, with all three major U.S. stock i...
Read more »
A week after the shootings, New Zealand joins Muslim community for Friday prayersPeople turned out across the country to stand together with Muslims as they try to recover.
Read more »
NBA notebook: Lakers expect James to play FridayLeBron James participated in about half of practice Thursday, and coach Luke Wal...
Read more »
Friday sermon by the imam of New Zealand mosque attacked by gunmanThe Muslim call to prayer sounded out over Christchurch and around New Zealand o...
Read more »