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Trump moves his trade war to a new frontier as he kicks India and Turkey out of a $19 billion agreement

About $5.6 billion worth of Indian goods enjoy duty-free entry into the US under an agreement known as Generalized System of Preferences.
A boy jumps into Bosphorus to cool off in Istanbul, Turkey August 20, 2018.

Turkey has dived headfirst into a ‘steep’ and ‘deep’ recession

"The latest Turkish activity data suggest that the plunge in the lira since May, and the associated sharp tightening of financial conditions, has tipped the economy into recession," Capital Economics' Jason Tuvey wrote on Wednesday.
Stock markets have been shaken by Turkey's currency crisis.

‘Clear risks of contagion’: European markets drop as Turkey’s lira crisis spreads around the world

The lira's slide continued Monday, with the currency dropping as much as 10% against the US dollar in early-morning trading before stabilizing.

Turkey is blaming social media and ‘fabricated news’ for the collapse of its currency

The country's financial regulator is seeking prison sentences of up to five years for those who spread 'erroneous and fabricated news and statements' to influence markets.