Emerging Stocks Fall Most in Three Months as Industrials Slump
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Emerging-market stocks slid the most in three months, led by industrial companies, after GS Engineering & Construction Corp. said profit tumbled and U.S. elections paved the way for a showdown over the nation’s budget deficit.
GS Engineering slumped to the lowest level in more than three years in Seoul and set a gauge of industrial stocks for its biggest drop since July. Brazilian homebuilder MRV Engenharia & Participacoes SA fell the most since Aug. 2 while Russia’s Micex Index sank to a three-month low, led by OAO Sberbank, the country’s biggest lender.