"Turkish lira eases, stocks seen down after Fed move
ISTANBUL: Turkey's lira currency dipped in early interbank trade on Wednesday and stocks were also expected to open lower after U.S. and Asian markets responded negatively to a modest U.S. interest rate cut. The Federal Reserve cut rates by a modest quarter-point to 4.25 percent on Tuesday, disappointing Wall Street hopes for bolder action to loosen tight credit markets and avert a feared recession in the world's biggest economy. Lower rates in the United States stimulate money flows into higher-yielding emerging markets such as Turkey. "
More:Turkish lira eases, stocks seen down after Fed move- International Business-News-The Economic Times
