Nasdaq: "A Tanking Turkey Can't Cancel Out Good News for Nielsen, Newell"

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Nasdaq: "A Tanking Turkey Can't Cancel Out Good News for Nielsen, Newell"

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!