The long-awaited Turkish rate hike took markets by surprise although higher rates to fight inflation were expected for weeks. Turkish interest rates went from 4.5% to 10% in one fell swoop to try to shock lire short-sellers. This led to some reversal of the anti-emerging markets trend.

Guru Carl Icahn isn't thrilled with the prospects of U.S. stocks.... but we invest abroad.

The hairy crab population in the waters of Shanghai is likely to grow significantly thanks to the crackdown on corruption. More sea creature news follows along with other tidbits.