Risk Unrewarded as Emerging Stocks Lose in Worst Start Since ’08

Risk Unrewarded as Emerging Stocks Lose in Worst Start Since ’08

Dado Galdieri/Bloomberg

BM&FBovespa SA signage is displayed on a floor mat as traders enter the stock exchange in Sao Paulo, Brazil. Brazilian shares led the decline in emerging markets this year, with the benchmark Bovespa Index falling 9.4 percent.