Charlie Toole, vice president at Adviser Investments, has the market analysis for Monday, August 13. The Dow Jones Industrial Average, S&P 500 and NASDAQ Composite each declined: 0.5%, 0.4% and 0.2%, respectively. The Turkish lira fell another 7% today (in addition to yesterday’s 12% decline); however, unlike international markets, dips across major U.S. indexes were not driven by fear-based selling—as evidenced by declines in traditional safe-haven assets like gold and U.S. Treasury bondsA financial instrument representing an IOU from the borrower to the lender. Bond issuers promise to pay bond holders a given amount of interest for a pre-determined amount of time until the loan is repaid in full (otherwise known as the maturity date). Bonds can have a fixed or floating interest rate. Fixed-rate bonds pay out a pre-determined amount of interest each year, while floating-rate bonds can pay higher or lower interest each year depending on prevailing market interest rates.. Despite emerging market concerns, U.S. markets continue to be buoyed by second quarter earnings’ 25% year-over-year growth rate as well as the economy’s anticipated growth trajectory.