Fallout from the Turkish lira’s meltdown is starting to spread to markets around the world

Matt Dunham – WPA Pool/Getty Images

• Global markets are under pressure following the plunge in the Turkish lira late last week.
• The lira’s fall continued in Asian trade on Monday — it plunged as much as 10% when markets opened.
• The weakness is starting to spread to other emerging market currencies, with the South African rand crashing by as much as 10% against the greenback.
• Stock markets around Asia are lower, US stock futures are down, and high quality bonds are rallying.
• You can follow the lira price live on Markets Insider.

Global markets are selling off following last Friday’s collapse of the Turkish lira.

China’s benchmark Shanghai Composite index immediately fell by more than 1% after the opening bell at 11:30am AEST — a fall matched by similar declines in Hong Kong and South Korea.

See the rest of the story at Business Insider

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