Flags of the United States and Turkey
Flags of the United States and TurkeyiStock

Trouble in Turkey. The Turkish currency, the lira, is sinking. The stock market reacts. Investors are nervous. Will the troubles spread to other emerging markets?

On top of that, the United States hit Turkey with new tariffs last Friday, just one of the Trump administration’s many trade battles. And the president is unhappy with the referee in these dealings, the World Trade Organization.