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Global stocks are getting slammed and major currencies are going haywire on a wild Friday in markets

A slew of unnerving headlines this week from the United Kingdom, Russia, and Turkey has culminated in a wild Friday for global markets.

Turkey is front and center of the chaos on Friday, with its currency plunging to a record low against the US dollar. A diplomatic tussle between the US and its NATO ally deepened Friday after President Donald Trump said he had authorized the doubling of tariffs on Turkish steel and aluminum.

The turmoil in Turkey raised fears over what it means for the eurozone, sparking a sell-off in bank stocks and other assets in the region.

Facebook has talked to crypto project Stellar about its blockchain efforts

Facebook is speaking with a number of crypto projects as it explores ways in which it can use blockchain technology.

In recent months, Facebook’s blockchain team, led by former PayPal executive David Marcus, has met with open source payments technology company Stellar about some of those opportunities, people familiar with the talks told Business Insider. While the talks were early stage, they could shed light onto Facebook’s ambitions to push into finance and take on big banks.

2018 is shaping up to be a record year for private investing

In Silicon Valley, startups valued at $1 billion or more are nicknamed “unicorns” because originally they were so few and far between.

But according to new data from Crunchbase, 2018 is quickly diminishing the rarity of the unicorn status: After the first seven months of the year, 65 companies are already newly minted unicorns.

If the trend continues, 2018 will be a record-making year for billion-dollar companies.

In markets news

The lira’s crash ‘looks certain to push the Turkish economy into recession and may well trigger a banking crisis’

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Source:: Businessinsider – Finance

      

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