Traders Richard Deviccaro, center, and Joseph Dente, right, work on the floor of the New York Stock Exchange, Friday, Aug. 10, 2018. Stocks are opening moderately lower on Wall Street following steeper... (Associated Press) 
 
 Traders Richard Deviccaro, center, and Joseph Dente, right, work on the floor of the New York Stock Exchange, Friday, Aug. 10, 2018. Stocks are opening moderately lower on Wall Street following steeper losses in Europe, where investors worried about a sharp drop in Turkey's currency. (AP Photo/Richard... (Associated Press) 
 
 Traders Richard Deviccaro, center, and Joseph Dente, right, work on the floor of the New York Stock Exchange, Friday, Aug. 10, 2018. Stocks are opening moderately lower on Wall Street following steeper losses in Europe, where investors worried about a sharp drop in Turkey's currency. (AP Photo/Richard... (Associated Press) Traders Richard Deviccaro, center, and Joseph Dente, right, work on the floor of the New York Stock Exchange, Friday, Aug. 10, 2018. Stocks are opening moderately lower on Wall Street following steeper... (Associated Press) 
 
 NEW YORK (AP) — The latest on developments in financial markets (all times local): 
 
 4 p.m. 
 
 Stocks in the U.S. and Europe skidded as investors worried about the financial stability of Turkey and how it might affect the global financial system. 
 
 Investors sold stocks and bought U.S. dollars and government bonds Friday. 
 
 That sent bond yields lower, which hurts U.S. banks by driving down rates on mortgages and other loans. JPMorgan Chase lost 1 percent. 
 
 The dollar also rose against other currencies as the Turkish lira nosedived. 
 
 Major exporters like technology, basic materials and industrial companies sank. 
 
 The S&P 500 index fell 20 points, or 0.7 percent, to 2,833. 
 
 The Dow Jones Industrial Average fell 196 points, or 0.8 percent, 25,313. The Nasdaq composite fell 52 points, or 0.7 percent, to 7,839. 
 
 Bond prices rose. The yield on the 10-year Treasury note fell to 2.87 percent. 
 
 ___ 
 
 11:45 a.m. 
 
 Stocks are moving lower in midday on Wall Street following steeper losses in Europe, where investors worried about a sharp drop in Turkey's currency. 
 
 The dollar and bond prices rose Friday as investors shifted money into lower-risk assets. 
 
 U.S. banks fell in tandem with bond yields. JPMorgan Chase lost 1 percent. 
 
 Online storage company Dropbox sank 7.5 percent after its chief operating officer left. 
 
 The S&P 500 index fell 13 points, or 0.5 percent, to 2,839. 
 
 The Dow Jones Industrial Average fell 166 points, or 0.6 percent, 25,342. The Nasdaq composite fell 32 points, or 0.4 percent, to 7,859. 
 
 Bond prices rose. The yield on the 10-year Treasury note fell to 2.87 percent. 
 
 ___ 
 
 9:35 a.m. 
 
 Stocks are opening moderately lower on Wall Street following steeper losses in Europe, where investors worried about a sharp drop in Turkey's currency. 
 
 The dollar and bond prices rose in early trading Friday as investors shifted money into lower-risk assets. 
 
 U.S. banks fell in tandem with bond yields. JPMorgan Chase lost 1.5 percent. 
 
 Online storage company Dropbox sank 9.1 percent after its chief operating officer left. 
 
 The S&P 500 index fell 15 points, or 0.6 percent, to 2,837. 
 
 The Dow Jones Industrial Average fell 180 points, or 0.7 percent, 25,324. The Nasdaq composite fell 40 points, or 0.5 percent, to 7,849. 
 
 Bond prices rose. The yield on the 10-year Treasury note fell to 2.89 percent. ||||| I have just authorized a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar! Aluminum will now be 20% and Steel 50%. Our relations with Turkey are not good at this time!
– Stocks in the US and Europe skidded as investors worried about the financial stability of Turkey and how it might affect the global financial system. The Dow Jones Industrial Average fell 196 points, or 0.8%, to 25,313, per the AP. The Nasdaq composite fell 52 points to 7,839, and the S&P 500 index fell 20 points to 2,833. A Turkish official, meanwhile, says President Trump's decision to double tariffs on Turkish steel and aluminum imports, which he announced on Twitter, lacked "state seriousness." It's the latest development in souring relations: The US slapped sanctions on two Turkish officials earlier this month over a detained American pastor. As for the markets, investors sold stocks and bought US dollars and government bonds Friday. That sent bond yields lower, which hurts US banks by driving down rates on mortgages and other loans. JPMorgan Chase lost 1%. The dollar also rose against other currencies as the Turkish lira nosedived. Major exporters like technology, basic materials, and industrial companies sank.