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Turkey’s currency plunges as Trump tweets about increasing tariffs

BostonGlobe.com
Turkey’s currency plunges as Trump tweets about increasing tariffs

Turkey’s currency plunged Friday — accelerated by a hostile tweet from President Donald Trump — causing financial markets to tremble and showing that the country is as much a risk to the world economy as it is a geopolitical flashpoint. Internal political turmoil, soaring inflation, and conflict with Trump over a jailed American pastor have combined to destroy confidence in the Turkish lira, which lost 20 percent of its value against the dollar at one point Friday. There is fear among foreign investors that President Recep Tayyip Erdogan is pursuing irresponsible economic policies while undercutting the independence of the central bank. That, analysts fear, is preventing the country from taking