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Yuan Slide Slams Emerging Nations as Stocks Head for Bear Market

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Emerging-market stocks fell toward the lowest level since 2011 and currencies retreated on concern China will curtail imports from some countries after the biggest slide in the yuan in two decades.

The selloff took the MSCI Emerging Markets Index’s decline from a peak last September to 20 percent, the threshold for a bear market on a closing basis. Shares in Indonesia slumped to a 17-month low. Russia’s ruble weakened 2.4 percent against the dollar while currencies from Brazil to Chile fell at least 1.1 percent. Turkish stocks rallied after parties agreed to continue coalition talks.