Excerpt from the Nasdaq quoting the DataTrek Morning Briefing:
…. “Stocks are poised to start the week a hair lower following Friday’s slump, given ongoing worries about Turkey….
…. Of course, Turkey is a relatively small portion of the global market. However, for “western investors contagion is the issue,” not Turkey itself, writes DataTrek’s Nicolas Colas. The fact that Turkish equities represent less than 1% of the MSCI Emerging Markets Index, but emerging markets took such a hit on the news demonstrates “how correlated EM equities can be during currency/economic crises, even when the country in question has a nominally low weighting.”
For his part, Colas expects that”….
Read the whole article here on Nasdaq!