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U.S. Stocks Drop, Dollar Gains Amid Turkey Crisis: Markets Wrap

Jeremy Herron
U.S. Stocks Drop, Dollar Gains Amid Turkey Crisis: Markets Wrap

Stocks sold off around the world, with U.S. equities erasing what would’ve been a sixth weekly gain as Turkey’s economic crisis deepened. The S&P 500 Index slumped in thin trading, zapping gains that had taken it within striking distance of an all-time high. European and emerging-market equities bore the brunt of selling, with losses of more than 1 percent after the U.S. escalated a diplomatic row that tipped Turkey’s economy deeper into crisis.