Emerging-Market Stocks Fall as Exporters Sink on Growth Outlook
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Emerging-market stocks fell the most in a month as Brazil’s Ibovespa led a decline among the biggest equity benchmarks in developing nations after a drop in raw-material prices sapped commodity exporters.
The MSCI Emerging Markets Index lost 1.1 percent to 1,027.38, reducing its fourth monthly gain. A gauge of technology stocks slipped for a second day from a record, led by Taiwan Semiconductor Manufacturing Co., which declined 2.1 percent. The Standard & Poor’s GSCI index of raw materials dropped 0.7 percent as a report showing U.S. consumer spending fell in April stoked concern that slowing growth will reduce demand for commodities in the world’s largest economy.