Here's What the Collapsing Turkish Lira Means For the US: Market Recon

Crisis !!

You kind of thought that maybe you'd just ease on into the weekend, didn't you? Who could blame you. Well, forget it. While most of you were catching up on your beauty rest, the Turkish lira was collapsing versus the US dollar. Big time. At the morning's trough, the lira traded at more than 6 to the greenback. The Financial Times reported overnight that the European Central Bank is growing increasingly concerned that certain Eurozone lenders may be over-exposed to Turkish currency fluctuations. Spain's BBVA (BBVA) , Italy's UniCredit (UNCRY) , and BNP Paribas (BNPQY) of France are specifically named in the article as having drawn the scrutiny of the ECB's Single Supervisory Mechanism. In short, what a couple of days ago seemed like peripheral news is now front and center....1434 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

Read the full story and get access to the Real Money Pro trading floor.

There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.

Already a Subscriber? Please login.

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.