The S&P 500 fell 14 points, or 0.50%, to 2,839.23 as of 9:36 AM ET (13:36 GMT), while the Dow decreased 165 points, or 0.65%, to 25,343.40 and the tech-heavy Nasdaq Composite lost 39 points, or 0.50% to 7,852.47. U.S. President Donald Trump announced on Friday that he would double tariffs on steel and aluminum imports from Turkey, as the two countries face a diplomatic spat. Earlier in the day Turkish President Tayyip Erdogan urged citizens to sell U.S. dollars and gold for lira, after a meeting between Turkish and U.S. officials lead to no solution over the detention of a U.S. pastor in Turkey and the Turkish lira slumped to an all time low. Technology stocks were lower after the morning bell, with Apple (NASDAQ:AAPL) falling 0.14%, Snap down 1.22% and Facebook (NASDAQ:FB) dipping 0.80%. Dropbox slumped 9.32% after news that its chief operating officer, Dennis Woodside, is stepping down. Elsewhere, Overstock.com (NASDAQ:OSTK) surged 23.06% after it announced that private equity firm GSR Capital will invest up to $374.55 million in both the company and its blockchain subsidiary tZero. Meanwhile, U.S. inflation was steady in July, relieving the pressure on the Federal Reserve to increase its rate of interest rate hikes. In Europe stocks were down. Germany’s DAX fell 230 points, or 1.82%, while in France the CAC 40 decreased 78 points, or 1.43%, and in London, the FTSE 100 was down 52 points, or 0.68%. Meanwhile the pan-European Euro Stoxx 50 lost 60 points, or 1.73%, while Spain’s IBEX 35 slumped 166 points, or 1.71%. In commodities, gold futures rose 0.20% to $1,222.30 a troy ounce while crude oil futures increased 1.03% to $67.50 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, rose 0.67% to 96.10.
10 Aug 2018
Stocks- Wall Street Slumps as Trump Increases Tariffs on Turkey
Facebook's Marcus Steps Down From Coinbase Board
David Marcus is stepping down from the board of directors at crypto exchange Coinbase, citing his new role at Facebook leading blockchain strategy.
Number of ICOs Grew 1.5 Times, Money Raised Decreased 12% in Q2: Report
The number of ICOs launched in the second quarter of the year grew by 49 percent, a new report states. The amount of money raised, however, indicated that investors were less excited at the prospect of investing in ICOs, as it fell by 12 percent. Finance and commerce ICO projects took the lion’s share of […]
Apocalyptic Predictions About Privacy Coins Are Very Wide of the Mark
Bitcoin is a permissionless ledger. In plain English, that means you don’t need to ask anyone’s damn permission to use it. There are no terms and conditions to read, no checkbox to tick, and no forms to sign before you can send or receive bitcoin. But if some people had their way, pseudonymous cryptocurrencies, as […]The post Apocalyptic Predictions About Privacy Coins Are Very Wide of the Mark appeared first on Bitcoin News.
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