Telecom lifts Nasdaq, Dow and S&P close with modest losses

Dow down 200 emerging markets crashing on US-Turkey geopolitical concerns

Andrew Kelly Reuters

The tech-heavy index was up 0.33 percent at 7,914.22, a quarter of a percent away from hitting an all-time high.

With the second-quarter US earnings season mostly over, investors are turning their attention from solid economic growth and corporate profits to other risks, said Michael Arone, chief investment strategist at State Street Global Advisors in Boston.

The VIX Volatility Index was higher at 13.20 for a gain of 1.93 points or 17.13%.

At 9:50 a.m. EDT the Dow Jones Industrial Average was down 14.63 points, or 0.06 percent, at 25,569.12, the S&P 500 was unchanged at 2,857.70 and the Nasdaq Composite was up 11.39 points, or 0.14 percent, at 7,899.72.

Aug 10 (Reuters) - The Dow Jones Industrial Average fell more than 200 points on Friday amid a widespread selloff in global stocks as the Turkish lira tumbled due to concerns over the country's economy and a deepening rift with the United States.

The Russell 2000 index of smaller-company stocks fell 4.08 points, or 0.2 per cent, to 1,686.80. Occidental Petroleum OXY.N fell 4.2 percent after it maintained a tepid production forecast for the year.

The slide followed a tweet from US President Donald Trump announcing he was doubling US tariffs on Turkish steel and aluminium.

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The S&P 500 is up 13.23 points, or 0.5 per cent.

Meanwhile, concerns over escalating trade conflict between the US and China weighed on the trade-sensitive S&P 500 Industrials Index, which ended up losing 0.57% on the day.

"It was a classic risk-off move", said Quincy Krosby, chief market strategist at Prudential Financial in New Jersey.

The S&P 500 is up 159.67 points, or 6 per cent.

Brent crude futures fell 8 cents to $72.20 a barrel and USA crude futures were down 2 cents at $66.92 a barrel.

Shares of trade-sensitive companies also declined, including Boeing, 3M and Caterpillar, which were all down at least 1.4 percent.

Declining issues outnumbered advancers for a 1.63-to-1 ratio on the NYSE and for a 1.06-to-1 ratio on the Nasdaq.

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