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Stocks rose Tuesday following solid economic data and strong earnings. The dollar and Treasury yields extended gains.
The Turkish lira has stabilised on Tuesday morning after over a week of big losses. The currency is still down around 33% against the dollar so far in August.
Stocks were lower Monday as a currency crisis in Turkey roiled global markets. The dollar rallied, and Treasury yields inched higher.
The lira's slide continued Monday, with the currency dropping as much as 10% against the US dollar in early-morning trading before stabilizing.
The world’s largest maker of bitcoin mining chips is reportedly hoping to raise $18 billion in what could be one of the largest IPOs in history
Cryptocurrency mining chip maker Bitmain hopes to raise $18 billion for an IPO in the coming months, according to documents obtained by CoinDesk.
The Turkish lira is sinking so fast it risks ‘smashing into the ground’ — and people are worried about European contagion
The Turkish lira has plunged more than 35% against the US dollar this year. Concerns are mounting that the decline will start to hit European banks, even as the Turkish government promises to stabilize the economy.
Stocks rose Monday, with the S&P 500 approaching its January all-time high, after a wave of strong earnings reports. The dollar edged higher, and Treasury yields fell.
As the yuan holds close to its lowest levels in more than a year, China's central bank announced on Friday it will raise the amount of cash required to set aside when buying dollars through currency forwards.
Stocks staged a comeback Tuesday after a three-session losing streak amid optimism for cooling trade tensions between the US and China. The dollar rose, and Treasury yields fell.
Soybean prices jumped Tuesday on the prospect of easing trade tensions, heading for the longest streak of gains in nearly a year.