Economics
Emerging Markets Post Worst Week Since January on Growth Concern
- U.S. jobs data report was `bad news,' Capital Economics says
- Turkish lira, bonds slump after prime minister resignation
Emerging Markets Set to Benefit From Dollar Decline
This article is for subscribers only.
Emerging-market stocks and currencies posted their biggest weekly declines since January as a U.S. jobs report underscored the frailty of the global economic recovery.
Developing-nation assets dropped Friday as a U.S. Labor Department report showed subdued economic growth prompted a more moderate rate of hiring in the world’s biggest economy. The MSCI Emerging Markets Index fell for a sixth day as nine out of ten industry groups retreated, led by industrial stocks. Currencies in Poland, Hungary and Singapore led a gauge of exchange rates to a one-month low. Turkish markets extended losses after Prime Minister Ahmet Davutoglu said on Thursday he will step down.