Emerging Stocks Close At Lowest Level Since January

Emerging-market stocks fell to the lowest level in almost three months as shrinking Chinese and European manufacturing output boosted concern a global slowdown will curb demand for exports.

The MSCI Emerging Markets Index slid 1.3 percent to 1,007.96 in New York with energy and consumer staple companies leading declines. The Bovespa index dropped 1.5 percent as JBS SA, the world’s largest beef producer, fell 6.3 percent, its sharpest drop in a month. Wal-Mart de Mexico SAB fell 12 percent, the most since 1998, as the company investigates possible bribery payments to Mexican officials. Equity gauges across Europe slumped, with Poland’s WIG20 tumbling the most in five months.