How major USA stock indexes fared Thursday

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USA stocks slid on Friday as a deepening economic crisis in Turkey dragged on bank shares and triggered a move out of riskier assets.

The Russell 2000 gained 13.43 points, or 0.8 per cent.

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.

The Dow is up 790.01 points, or 3.2 percent. The Dow Jones Small-Cap Growth TSM Index closed at 10,474.34 for a loss of -18.84 points or -0.18%.

Microchip Technology shares fell 10.9 per cent after a disappointing second-quarter revenue forecast.

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

Crude oil prices failed to make a decisive recovery on Thursday even though the US sanctions against Iran went into effect on Thursday and the S&P 500 Energy Index closed the day 0.9% lower.

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"Today's impact has set the markets in a temporary risk-off sentiment", said Matt Forester, chief investment officer of BNY Mellon's Lockwood Advisors.

Rite Aid (RAD.N) fell 10.6 percent and was the most actively traded stock after the drug store chain and USA grocer Albertsons Cos ABS.N agreed to terminate their merger agreement.

The S&P financial index fell 1.2 per cent, among the biggest drags on the S&P 500.

Citigroup, the most global of the major USA banks, fell 2.4 per cent. JPMorgan, Wells Fargo and Bank of America were also lower.

Sinclair dropped 2.9 percent after Tribune Media dropped its $3.9 billion deal to be acquired by Sinclair and filed a lawsuit against the company for breach of contract.

Shares of trade-sensitive companies declined, with Boeing, 3M and Caterpillar down between 2.3 percent and 4 percent.

Declining issues outnumbered advancing ones on the NYSE by a 2.12-to-1 ratio; on Nasdaq, a 1.47-to-1 ratio favored decliners.

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