Market Snapshot: Dow tumbles nearly 300 points amid reignited Turkish-lira worries [MarketWatch]
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Source: MarketWatch
Dow tumbles nearly 300 points amid reignited Turkish-lira worries U.S. stock benchmarks traded solidly lower early Wednesday as investors sifted through a batch of economic data and continued to monitor Turkey’s currency crisis. The Dow Jones Industrial Average DJIA, -1.11% fell 270 points, or 1%, to 25,029, those for the S&P 500 index SPX, -1.13% were off 29 points at 2,810, a drop of 1.1%. The Nasdaq Composite Index COMP, -1.53% meanwhile, was down 103 points, or 1.3%, to reach 7,766. The technology-and-internet heavy Nasdaq was being pressured by large-capitalization technology stocks. Facebook Inc . FB, -1.41% was down, while shares of Microsoft Corp . MSFT, -1.65% were also falling. In Tuesday’s session, major indexes closed solidly higher as selling of Turkey’s currency abated, allowing investors to focus on a healthy domestic economy and strong corporate results. Investors continued to monitor the currency crisis in Turkey, which many fear could spread and have a
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