The Market’s Feeling the Pressure of Contagion

1 | By Wall Street Insights and Indictments Staff

Global markets have been feeling the heat since Turkey’s currency, the lira, suffered a precipitous drop last week. Non-bank borrowers in Turkey have over $198 billion of dollar-denominated debt – and the massive drop in the lira increases their debt service threefold. That’s a huge problem, and the market felt the weight of it as the Dow slipped over 200 points after the open.

On today’s episode of Varney & Co., host Stuart Varney and Shah Gilani talk about Warren Buffett’s and George Soros’s major stake increases in Apple Inc. (NasdaqGS:AAPL) – a company that neither of these financial titans had interest in before. Meanwhile, The Kroger Co. (NYSE:KR) is hopping on the grocery delivery trend, partnering with a Chinese company that may surprise you…

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