Emerging Stocks Drop as World Bank Spurs Global Growth Concern
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Emerging-market stocks fell for the second time in three days as the World Bank’s forecast for global-economic growth underscored weakness in Asia and Europe.
Southern Copper Corp. and Jiangxi Copper Co. fell at least 3.7 percent as prices for the metal slid to the lowest since 2009. Hyundai Mobis Co. fell the most since November as auto-industry companies dropped. Russia’s ruble ended a three-day retreat as a rebound in oil prices outweighed concern that Standard & Poor’s will cut the sovereign’s credit rating to junk. The real climbed to a one-month high as Brazilian retail sales rose.