Emerging ETF Sinks Most Since July on Declining Earnings
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The exchange-traded fund tracking emerging-market shares slipped the most since July in New York and stocks slumped on concern the global slowdown is crimping company earnings and as commodities erased this year’s gains.
The iShares MSCI Emerging Markets Index ETF, which tracks companies including Korea’s Posco and Moscow-based OAO Gazprom, sank 2.1 percent to $41.04 at the close of trading in New York, the biggest one-day slide since July 23. The MSCI Emerging Markets Index lost 1 percent to 996.82, the steepest drop since Oct. 8.