Turkey Turmoil Shaves 200 Points Off Dow

Dow down 200 emerging markets crashing on US-Turkey geopolitical concerns

Andrew Kelly Reuters

JPMorgan, Wells Fargo and Bank of America fell more than 1 percent, weighing the most on the benchmark S&P 500.

US stocks closed mixed on Thursday as investors digested a batch of key economic data and corporate earnings reports.

Shares of Apple rose 0.8 percent, while those of Amazon (AMZN.O) were up 0.6 percent.

The Russell 2000 index of smaller-company stocks fell 4.08 points, or 0.2 per cent, to 1,686.80.

The Russell 2000 is up 151.29 points, or 9.9 per cent.

Investors fled to safe-haven assets, pushing the dollar higher and weighing on US bond yields.

"Today's impact has set the markets in a temporary risk-off sentiment", said Matt Forester, chief investment officer of BNY Mellon's Lockwood Advisors.

At 12:41 p.m. ET, the Dow Jones Industrial Average was down 175.04 points, or 0.69 percent, at 25,334.19, the S&P 500 was down 14.98 points, or 0.52 percent, at 2,838.60 and the Nasdaq Composite was down 27.87 points, or 0.35 percent, at 7,863.91.

The biggest drag on the S&P 500 was Booking Holdings (BKNG.O), which fell 5 percent after it forecast third-quarter profit below expectations.

The Nasdaq gained 0.3 per cent for the week after strong gains in some technology shares.

The Canadian dollar averaged 76.26 cents U.S., down 0.43 of a United States cent.

The Dow is up 790.01 points, or 3.2 per cent.

Shares of trade-sensitive companies also declined, including Boeing, 3M and Caterpillar, which were all down at least 1 per cent.

Advancing issues outnumbered decliners by a 1.68-to-1 ratio on the NYSE and by a 1.58-to-1 ratio on the Nasdaq.

The S&P index recorded 21 new 52-week highs and three new lows, while the Nasdaq recorded 63 new highs and 65 new lows. That compares with the 6.4 billion-share daily average for the past 20 trading days, according to Thomson Reuters data.

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