European shares show big decline: Market News

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European shares show big decline: Market News

August 10, 2018 - 12:52
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According to Bloomberg, European stocks show the biggest decline in almost a month, after Asian shares dropped amid concerns about Turkey's economy. Banks and miners were leaders of Stoxx Europe 600 0,9% drop, after ECB informed that it worries about European lenders' exposure to Turkey.

Photo © Gerd Altmann, CC0 1.0

According to Bloomberg, European stocks show the biggest decline in almost a month, after Asian shares dropped amid concerns about Turkey's economy. Banks and miners were leaders of Stoxx Europe 600 0,9% drop, after ECB informed that it worries about European lenders' exposure to Turkey.

As a result, euro fell 0,5% to $1,147, the lowest level in a year. British pound has been falling for seven sessions already. Today it lost 0,3% and costs $1,2781. British FTSE dropped 0,6%, while German DAX lost 1,6%. Turkish lira fell by 6,2% to 5,9196 per dollar.

US futures fell along with indexes from Hong Kong to Sydney. S&P 500 dropped 0,4%. Dollar is growing together with US Treasuries and core European bonds. Bloomberg Dollar Spot Index gained 0,4%.

Oil recovered some losses amid growing concern over supply. It gained less than 0,05% to $66,84 per barrel. Price of gold fell to $1210,55 per ounce.