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10 things you need to know in markets today

Posted On: Aug 13, 2018   |   Posted By: Business Insider

10 things you need to know in markets today

Good morning! Here's what you need to know in markets on Monday.
1. Global markets are selling off following last Friday's collapse of the Turkish lira. China's benchmark Shanghai Composite index immediately fell by more than 1% after the opening bell - a fall matched by similar declines in Hong Kong and South Korea. Shares in Japan are also down more than 1.6%, weighed down by a stronger yen as money moves to safe-haven assets.
2. The Central Bank of the Republic of Turkey has issued a statement pledging to maintain stability in the financial system. The Turkish lira plunged 25 per cent against the US dollar last week, with most of that depreciation happening on Friday amid escalating tensions with the Trump administration. "The Central Bank will closely monitor the market depth and price formations, and take all necessary measures to maintain financial stability, if deemed necessary," the TCMB said.
3. While Tesla CEO Elon Musk teased last week about taking the company private, several suitors may...

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