Emerging-Market Currencies and Stocks Slide on Trade Jitters
- Mozambique says won’t make coupon payment due Jan. 18
- Lira resumes its slide, dragging index of currencies lower
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Emerging-market assets declined as concern grew that threats to global trade and growth are proliferating. Mozambique’s international bond tumbled after the nation said it won’t make an interest payment on Jan. 18.
The MSCI Emerging Markets Index dropped the most in more than three weeks and a gauge of currencies slipped for the first time in three days. Investors turned bearish after a report that the U.K.’s exit from the European Union would also involving leaving the single market. U.S. President-Elect Donald Trump said other members would also quit the bloc.