Trade Spat Gives Emerging Markets Bitter Ending for Quarter
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An end-of-week bounce wasn’t enough to reverse the drop for emerging markets, whose stocks and currencies posted their worst quarter since 2015 amid escalating trade-war concern and weakness in China.
The MSCI Emerging-Market Index of stocks reached its lowest level since mid-July and fell 1.7 percent on the week. A gauge that tracks developing-nation currencies declined for a fifth week, losing 1.1 percent after earlier sliding to a seven-month low. The Bloomberg Barclays index of EM local-currency government bonds slipped 0.9 percent, the fourth weekly decline.