Daily Market Update
with JJ Kinahan

5 min read

Turkish Non-Delight: Global Markets Set to Decline on Trade, Economic Woes

(Wednesday Market Open) As summer slides toward autumn and the latest batch of corporate earnings winds down, investors apparently are returning their focus to geopolitical concerns, with Turkey’s economy a focal point as tensions between the U.S. and key trading partners continue. 

U.S. stocks seemed poised for a weak open following pressure on European and Asian stocks overnight. Major overseas indices fell almost across the board, and Asian stocks sold off aggressively, with China’s market taking another dip after some disappointing economic data. The Chinese market continues to struggle.

Moving west from there to Europe, the news continued to roll in on Turkey. In retaliation for the U.S. raising tariffs on Turkish steel and aluminum, Turkey has now doubled duties on some U.S. products. The move comes as worries about Turkey’s economic crisis spreading to other regions have pressured stocks in recent days. Those tensions lifted a bit on Tuesday but appear to be on the front burner this morning.

Separately, China has filed a complaint with the World Trade Organization over U.S. tariffs on solar panels. It’s the latest in a broad trade dispute between th

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Daily Market Update

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