Emerging-Market ETF Declines Before Fed as Turkey Tumbles
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The iShares MSCI Emerging Markets Index exchange-traded fund fell, snapping a two-day advance, ahead of the Federal Reserve’s policy statement tomorrow. Turkey’s stocks led world losses amid corruption arrests.
The developing-nation ETF slipped 0.9 percent to $40.86 in New York. The MSCI Emerging Markets Index rose less than 0.1 percent to 990.49 after a five-day slide. The Borsa Istanbul National 100 Index sank 5.2 percent after the sons of two cabinet ministers and the chief executive officer of Turkey’s largest state-owned bank were arrested as part of a corruption probe. The Czech koruna declined to a four-year low against the euro as the central bank kept its intervention policy.