Emerging Markets Drop on Fed as Gordhan Summons Roils S. Africa

  • MSCI stocks gauge falls most this month on rate-increase bets
  • Rand tumbles as finance minister faces charges in fraud case

Emerging-market stocks fell the most this month as increased bets for a Federal Reserve interest-rate hike drove investors from riskier assets. South Africa’s rand led currencies lower after prosecutors said Finance Minister Pravin Gordhan will be charged in a fraud case.

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