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Wall St. falls amid Turkey woes; banks, tech decline

Reuters
Wall St. falls amid Turkey woes; banks, tech decline

NEW YORK (Reuters) - U.S. stocks slid on Friday as a deepening economic crisis in Turkey dragged on bank stocks and triggered fears that it could spread to other global economies. A drop in technology shares added to the bearish tone. The S&P technology index .SPLRCT fell 1 percent, with Intel (INTC.O) down 2.8 percent after Goldman Sachs downgraded the stock to “sell”. Microchip Technology (MCHP.O) shares fell 11.6 percent after disappointing second-quarter revenue forecast. A slump in the Turkish lira TRYTOM=D3 worsened after President Donald Trump doubled tariffs on steel and aluminum imported from the country. Investors fled to safe-haven assets, pushing the dollar .DXY higher and weighing