# Turkey fallout could continue to hit global markets, as Erdogan 'hangs tough'

> The Turkish currency and debt sell-off, with the lira down as much as 20% on Friday, is pressuring other emerging markets and exposing some European banks. Strategists said it was not seen as a trigger for a broader banking crisis, and stocks sold off globally.

- Date: 2018-08-10 · published 2018-08-10T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/11063-turkey-fallout-could-continue-to-hit-global-markets-as-erdogan-hangs-tough
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Emerging-market weakness and a stronger dollar could persist, pressuring currencies and risk assets that underpin import demand for feed and other commodities.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-08-01 | [Mid-Course Correction Sends Greenback Higher - Marc to Market  Marc Chandler on Global FX and Capital Markets](https://feedsoft.ai/events/57512-mid-course-correction-sends-greenback-higher-marc-to-market-marc-chandler-on.md) | +1.1% | +2.1% |
| DXY | 2019-05-10 | [The U.S. Dollar Is Suggesting Global Rates Will Continue To Fall \| Investing.com](https://feedsoft.ai/events/59255-the-u-s-dollar-is-suggesting-global-rates-will-continue-to-fall-investing-com.md) | +0.2% | -0.1% |
| DXY | 2020-04-02 | [Yuan falls to near 6-month low as global coronavirus fears grow  - CGTN](https://feedsoft.ai/events/53875-yuan-falls-to-near-6-month-low-as-global-coronavirus-fears-grow-cgtn.md) | -0.5% | -0.8% |
| DXY | 2022-11-15 | [Dollar rebounds as Fed officials say hikes to continue; yen slumps - Markets - Business Recorder](https://feedsoft.ai/events/38941-dollar-rebounds-as-fed-officials-say-hikes-to-continue-yen-slumps-markets.md) | +1.0% | -1.3% |
| DXY | 2024-01-25 | [GLOBAL MARKETS-Stocks edge higher while euro falls with US Treasury yields](https://feedsoft.ai/events/32345-global-markets-stocks-edge-higher-while-euro-falls-with-us-treasury-yields.md) | -0.0% | +0.5% |

## Sources

- cnbc.com: https://www.cnbc.com/2018/08/10/turkey-fallout-could-continue-to-hit-global-markets-as-erdogan-hangs.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.