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Emerging markets suffer with geopolitical tensions

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Odwa Magwentshu
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Markets fell across the globe, with events in Turkey dominating. The lira recovered some of Friday’s drop as Turkey’s central bank took steps to boost liquidity. Emerging-market assets were under pressure as President Recep Tayyip Erdogan maintained his defiance toward the U.S. and financial-market orthodoxy in speeches on Sunday even after the nation’s currency plummeted. The South African rand, which tumbled to a June 2016 low, among other weakening developing-nation currencies.

 

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