- Wall Street, European share indexes down
- Dollar retreats from 16-month high
- Turkish lira crashes 15% to record low
- <a href=”http://tmsnrt.rs/2yaDPgn”>Graphic: Global asset performance</a>
- <a href=”http://tmsnrt.rs/2egbfVh”>Graphic: World FX rates</a>
WASHINGTON/LONDON, Nov 23 (Reuters) – Wall Street stocks fell and the dollar slipped from a 16-month high on Tuesday as investors positioned for interest rate hikes in 2022 after Federal Reserve Chairman Jerome Powell was nominated for a second term, while European shares slumped to a three-week low.
Treasury yields weighed on major U.S. technology stocks, even as bank shares extended the previous day’s gains.
The Turkish lira lost 15% of its value, crashing to another record low as investors panicked after President Tayyip Erdogan defended recent rate cuts and showed little concern for rising inflation. read more
Register now for FREE unlimited access to reuters.com
Volatility in the Turkish currency…