Emerging-Market Stocks Post Longest Streak of Losses in a Month
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Emerging-market stocks fell for a fourth day, the longest losing streak in a month, led by energy and utility companies, as the European Central Bank kept its main interest rate unchanged.
The Ibovespa retreated 2 percent as Brazil’s central bank signaled that it will keep raising interest rates to tame inflation. Nigerian stocks fell for an 11th day on speculation the naira will be devalued. Equities in Taiwan slipped 0.8 percent. Computer services company SK C&C Co. sank the most since April 2012 in Seoul as sales trailed estimates. Russia’s ruble declined the most in six years after the central bank scaled back interventions.