Emerging Stocks Drop Most in a Month on Inflation, Europe Debt
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Emerging-market stocks fell the most in a month as investors speculated faster inflation in Asia will drive interest rates higher and that Portugal and Spain may struggle to raise funds in bond sales this week.
The MSCI Emerging Markets Index retreated 1 percent to 1,136.20 for the biggest decline since Dec. 8. Indonesia’s Jakarta Composite Index led the slump with a drop of 4.2 percent, the most in two years. The Czech Republic’s PX index tumbled 2.3 percent, the most since August. Mexico’s benchmark IPC index declined the most in almost four weeks.