Economics
Emerging Stocks Decline as U.S. Job Growth Supports Fed Increase
- U.S. employers added more jobs than forecast in November
- Oil tumbles as OPEC was said to set a new oil-output ceiling
Is the Worst Over for Emerging Markets?
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Emerging-market stocks headed for a weekly drop as U.S. jobs data and the European Central Bank’s decision to limit expansion of stimulus left riskier assets exposed to Federal Reserve rate increases. Colombia’s peso and the Russian ruble paced losses in currencies as oil tumbled.
The MSCI Emerging Markets Index retreated 1.7 percent this week, including a drop of 0.9 percent to 812.27 Friday. Russia’s ruble depreciated 0.9 percent against the dollar. Polish bonds retreated for a second day after yields on 10-year securities jumped the most in 14 months on Thursday, linked to the ECB’s decision to maintain rather than increase the pace of its monthly bond-buying program.