Stocks Fall as Turkish Lira Weakens Dollar Rises
Turkeys central bank measures failed to halt lira slide triggering a stronger dollar that hurts U.S. exporters. Markets across Asia Europe and the Americas weakened with Turkey and Argentina hitting all time lows as investors worry the turmoil could ripple into global banking and growth. Major indices fell with the S P 500 down to 2821.93 the Dow at 25187.70 and the Nasdaq 7819.71 while Turkey's woes prompted higher tariffs and a currency crisis backdrop.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Turkey
U.S
Recep Tayyip Erdogan
Washington
Erdogan
Argentina
Terry Sandren
U.S. Bank Wealth Management
Growth at 3.1 percent forecast for this year
The Washington Post reports the CBO projects U S economic growth at 3.1 percent in 2018, aided by government spending and tax cuts, but expects a slowdown to 2.4 percent in 2019 and about 1.7 percent thereafter as temporary policies expire.
MENTIONED IN THIS ARTICLE
U.S
Congressional Budget Office
CBO
Allen Sinai
Decision Economics
Trump
Satyam Panday
S&p Global
Wall Street
VF Corp splits denim unit to focus on activewear shift
VF Corp will separate its denim division to form NewCo, moving from Greensboro to solidify a pivot toward outdoor and activewear. The yet unnamed unit, anchored by Wrangler and Lee, aims for about $11 billion in annual revenue and is slated for completion in the first half of next year pending board approval.
MENTIONED IN THIS ARTICLE
New York
Wrangler and Lee Jeans
VF Corp
Nondenim
North Face
Timberland
Altra
Icebreaker
Williamson-Dickie
Lululemon
Under Armour
Nike
The
Gap
Target
NPD Group
Activewear
North Carolina
Denver
NewCo
Greensboro
N.C
Tesla buyout not done yet
Tesla CEO Elon Musk says Saudi Arabia's Public Investment Fund would back a going private deal but the plan remains incomplete. Regulators reportedly review Musk's August tweet about funding while the fund and investors weigh due diligence and approvals.
MENTIONED IN THIS ARTICLE
Detroit
Saudi Arabia
Sovereign Wealth Fund
Tesla
Elon Musk
Musk
U.S. Securities and Exchange Commission
Kingdom
Sovereign Wealth Fund Institute
Las Vegas
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Franklin Templeton Inc
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T. Rowe Price Bcgr
Vanguard
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