Bombings in Turkey rattle markets worldwide

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http://www.alertnet.org/thenews/newsdesk/N20373141.htm

NEW YORK, Nov 20 (Reuters) - Investors fearing more violence unloaded stocks and the dollar on Thursday and fled to the relative safety of gold and government debt after another round of deadly bombings in Turkey.

The twin blasts in Istanbul, which killed 26 people, came five days after the bombing of two synagogues in the city left 25 dead. The latest attacks coincided with U.S. President George W. Bush's visit to London, where he held meetings with British Prime Minister Tony Blair, the staunchest U.S. ally in the invasion of Iraq.

Shortly before Wall Street opened, a scare at the White House added more pressure to markets. Staff, tourists and reporters were temporarily evacuated after reports of a plane entering the airspace near the U.S. executive mansion. But it turned out to be a "blip" on a radar screen, and people were allowed back in.

The Dow Jones industrial average <.DJI> was down 14 points, or 0.14 percent, to 9,677. The Standard & Poor's 500 Index <.SPX> declined 0.7 point, or 0.07 percent, to 1,042. The technology-laced Nasdaq Composite Index <.IXIC> rose 6.6 points, or 0.4 percent, at 1,906.24 after declining earlier in the session.

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1. Will Al Qaeda Succeed?

If foreign investors and businesses pull out of Turkey, Al Qaeda will have succeded in further margianalizing the country economically.

That'll serve to weaken Turkey politically, leaving it more vulnerable to religious extremists. Which is exactly what the loonies want.

If Snow has any brains, he'll get together with the ECB and prop up the Turkish Lira ASAP.