The Turkish lira swings wildly as Erdogan's big gamble continues

Turkey's experiment in cutting interest rates to fight inflation has sent its currency crashing to record lows this year. Now, President Recep Tayyip Erdogan is trying to prop up the lira with a raft of new unorthodox economic measures.

News: What you need to know about the markets     The Turkish lira swings wildly as Erdogan's big gamble continues Turkey's experiment in cutting interest rates to fight inflation has sent its currency crashing to record lows this year. Now, President Recep Tayyip Erdogan is trying to prop up the lira with a raft of new unorthodox economic measures. Read more »   Omicron slams into American businesses: 'We've taken a big nose dive' Business was starting to turn around for Lido, an Italian restaurant in Harlem, after a grinding 20 months. Read more »   Bitcoin and other cryptos may become a little less volatile in 2022 BItcoin prices have been on a wild ride this year, and they are set to finish 2021 sharply higher than where they began it. Read more »   Kellogg strike will end after workers agree to new contract The 11-week long strike at Kellogg will end next week after workers at four cereal plants ratified a tentative labor deal with the company. Read more »   Nikola agrees to pay $125 million fine to settle SEC probe Nikola, the upstart electric truck maker, agreed to pay $125 million to settle Securities and Exchange Commission charges that it let its founder, Trevor Milton, defraud investors. Read more »   Turnaround Tuesday on Wall Street: Stocks attempt rebound The Dow opened higher on Tuesday as the US stock market is attempting to rebound from a sharp selloff at the start of the week. Read more »

Dow Nasdaq S&P +560.54   +360.14   +81.21 35,492.70   15,341.09   4,649.23 +1.60%   +2.40%   +1.78% YTD +15.96%   YTD +19.03%   YTD +23.78%

Biggest Winners Carnival Corp +8.68%   Las Vegas Sands Corp +8.40%   Devon Energy Corp +7.97%   Norwegian Cruise Line Holdings Ltd +6.99% Biggest Losers General Mills Inc -4.03%   Kroger Co -3.60%   Pfizer Inc -3.39%   Clorox Co -3.08%

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Key Market Stats Latest Today's Change Oil $71.39 +2.78 / +4.05% Gold $1,789.20 -5.40 / -0.30% 10-yr 1.49% +0.07 Euro $1.13 +0.00 / +0.09%

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