Excerpt from...
Markets Now: Dow Whipsawed as Market Can't Decide If Turkey Is a Problem or Not
By Ben Levisohn, Barron's ( August 13, 2018, 08:15:00 AM EDT )

This is why they created the word whipsawed. After falling early, then rising throughout the morning, the market have turned lower once again, as Turkey continues to dominate the headlines.

The S&P 500 has dipped 0.1% to 2831.45, while the Dow Jones Industrial Average has dropped 49.54 points, or 0.2%, to 25,263.60. The Nasdaq Composite is little changed at 7841.46.

And Turkey, whether it's a global problem or a local one, is likely to linger for a while. "The economic problems facing Turkey, however, are of a longer-term nature, evidenced by the dramatic fall in the lira over the past five years," writes Bill Witherell, chief global economist at Cumberland Advisors. "The economy under Erdogan's rule has binged on low-cost short-term foreign currency debt and is seriously out of balance...Financial markets are concerned, rightly in our view, about the risks of contagion from this situation"

Read the full article at NASDAQ.com

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