Stock market news, opening bell, August 10, 2018

Turkish Interior Minister Suleyman Soylu, back left,
following President Recep Tayyip Erdogan,
center.
Burhan
Ozbilici/AP

Here is what you need to know. 

The Turkish lira continues its plunge.
It hit an all-time low against the dollar on
Friday after a Turkish delegation in Washington failed to
prevent US sanctions over the arrest of the American pastor
Andrew Brunson. The European Central Bank said it was concerned
about lenders’ exposure to Turkey.

The pound is still falling, too. It hit a fresh
11-month low against the dollar after data from the UK Office for
National Statistics showed faster second-quarter gross
domestic product, but a manufacturing recession. 
 

Russia says US sanctions on banks or foreign currency dealings
would be a declaration of  “economic
war.” The US on Wednesday announced a new round
of sanctions targeting Russia that pushed the ruble to two-year
lows

Dropbox beat on second-quarter earnings and announced a key
executive was stepping down. 
Chief
Operating Officer Dennis Woodside, long considered a key
lieutenant to CEO Drew Houston, is leaving the company.

Tesla’s board may reportedly tell Elon Musk to recuse himself
from talks about taking the company private. The
board has told Musk he must consult different advisors as they
seek counsel,
CNBC reported.  

Tesla is now worth less than it was before Elon Musk’s $420
tweet. The stock closed down 5% Thursday
at $352.45; it was worth $358 when Musk tweeted Tuesday about
taking the company private.

Bank of America asked 65 investors their biggest fear — and the
top response shows just how vulnerable markets are right
now. A sharp loss of liquidity is now
their biggest worry.

Samsung unveils its Galaxy Note 9 and answers to the Apple Watch
and HomePod. The company announced a slew of new
products at an event in Brooklyn, New York on Thursday. 

Inflation
numbers are on deck. The July consumer-price index
will be released at 8:30 a.m. ET.  

Global equity
markets are in the red. Dow futures are down
0.4%, or 106 points. The 10-year yield is down four basis points
at 2.895%.