Economics
Emerging Stocks Fall to Five-Month Low as Petrobras Sinks
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Emerging-market stocks dropped to a five-month low as Petroleo Brasileiro SA to Samsung Electronics Co. slumped amid concern the global economy will slow down.
The MSCI Emerging Markets Index fell 0.1 percent to 916.56, extending this year’s slide to 8.6 percent. Petrobras retreated to the lowest since 2005 in Sao Paulo, while Samsung slumped for a sixth day. Galaxy Entertainment Group Ltd. and Sands China Ltd. plunged more than 7 percent in Hong Kong as casino companies tumbled on signs of a slowdown in Macau gambling revenue. Brazilian government bond yields extended a drop from a four-year high after the Treasury canceled bond auctions.