Economics
Emerging-Market Stocks Fall on EU Threat as Ruble Tumbles
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Emerging-market stocks fell, stemming a four-week advance, as the European Union weighed expanding sanctions against Russia amid mounting tension in Ukraine. The ruble led declines among major currencies.
The MSCI Emerging Markets Index retreated 0.4 percent to 1,011.73. Russia’s Micex index decreased to the lowest level in two weeks while the ruble extended this year’s slide to 8.5 percent. Ukraine’s hryvnia reversed earlier losses after the central bank raised its benchmark discount rate to support the currency. Yuan forwards declined to the lowest level in eight months amid concern China’s economic growth is faltering.