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Dow's 270-point tumble puts benchmark at risk of worst day in 6 weeks amid Turkey contagion fears

The Dow Jones Industrial Average was buying and selling solidly decrease in Friday afternoon buying and selling, with the day's losses placing the benchmark at the verge of logging its worst daily decline since past due June. The Dow DJIA, -0.77% was down 268 points, or 1.1% at 25,242, which would represent the worst point and share drop, must the decline cling, since June 25 when the gauge tumbled by way of 328 points or 1.33%, according to FactSet knowledge. The stoop for the price-weighted gauge, underlining a broad so-called risk off environment on Wall Street, comes amid growing concerns about the financial health of forex below President Recep Tayyip Erdogan, who was re-elected in a snap vote in June and whose growing energy has raised questions about the independence of the country's central bank. Meanwhile, the S&P 500 index SPX, -0.71% was down 0.nine% at 2,828, while the Nasdaq Composite Index COMP, -0.67% slumped by way of 0.eight% at 7,826. Turkey's lira TRYUSD, -13.7674% was buying and selling at a contemporary low against the buck, with its declines intensifying after President Donald Trump previous in the consultation said he would authorize doubling price lists on steel and aluminum imports from the country.

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