Emerging-Market Stocks Fall as Turkey Leads World Losses
This article is for subscribers only.
Emerging-market stocks dropped for a second day on speculation the global economy will falter amid a weaker Chinese property market. Turkey’s shares led world losses on concern the country’s political situation will worsen.
The MSCI Emerging Markets Index fell 0.3 percent to 955.54. The Borsa Istanbul 100 Index declined the most among 94 gauges as opposition leaders said Prime Minister Recep Tayyip Erdogan should resign over a leaked tape in which he allegedly discussed hidden funds, a claim he denied. The Shanghai Composite Index tumbled as China Vanke Co. led a rout in developers. The hryvnia slid to a record low after Russia warned Ukraine may default, while interim leaders delayed a vote on a unity government.