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Dow Falls Sharply, Stocks Close Lower on Turkey Crisis Jitters

TheStreet Staff

President Trump said Friday he would double the level of tariffs applied to Turkish steel and aluminum imports, a move that extended the Turkish lira's decline. Consumer prices in the U.S. rose 0.2% in July, matching economists' estimates, while core CPI -- which strips out gas and food prices -- also rose 0.2%. Stocks on Wall Street closed sharply lower on Friday, Aug. 10, amid concerns over the ongoing slide of the Turkish lira and fears the country's economic and political crisis could spread to Europe and elsewhere.