Emerging-Market Sentiment Turns More Bearish With Oil Price Drop
- Equities and currencies head for worst years since 2011, 1997
- Russia's ruble caps third straight annual depreciation
A vendor pours gasoline into a funnel while filling a customer's motorcycle at a street stall in Jakarta, Indonesia, on Wednesday, Jan. 21, 2015. Indonesia will overhaul national oil company PT Pertamina as the government seeks to improve the management of state-owned enterprises and deliver infrastructure projects after slashing fuel subsidies.
Photographer: Dimas Ardian/BloombergSentiment toward emerging-market assets turned more bearish as oil slumped below $37 a barrel and concern lingered that the slowdown in China will affect global growth.
Measures of developing-nation stocks and currencies fell for a third day, and are set for the biggest annual losses since 2011 and 1997, respectively. Chinese shares traded in Hong Kong led declines in Asia. Russia’s ruble capped its third annual slump, closing at a record low against the dollar.