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Africa Reels as Rout Spreads From Egypt Stocks to Rand Bonds

  • Continent’s debt and stocks have underperformed EM peers
  • South African currency heads for worst quarter since 2011
South African rand banknotes and coins.

South African rand banknotes and coins.

Photographer: Waldo Swiegers/Bloomberg
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The emerging-market sell-off is taking a heavy toll on Africa.

The continent’s bonds and stocks are being hammered more than those in most other regions amid a rout that’s wiped over $1 trillion off developing nations’ equity markets this quarter and sapped confidence from Brazil to China.