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Little Relief in Sight as Emerging Stocks Slide Near Bear Market

  • Morgan Stanley says stay short on emerging-market currencies
  • It’s ‘no longer just about EM fundamentals’: Deutsche Bank
Bloomberg business news
Emerging-market troubles are deepening, says Deutsche Bank’s Sameer Goel.(Source: Bloomberg)
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The rout in emerging markets showed few signs of abating, even as some of the worst-hit currencies took a breather, as an index of stocks slipped toward bear territory and a basket of currencies traded near its lowest since May 2017.

The MSCI Emerging Markets Index of shares extended its slide to 19.7 percent from a January peak. Among the worst-hit stock markets were Saudi Arabia and Indonesia, where benchmark indexes tumbled by the most in about two years. The Argentina peso and Turkish lira, which have led global losses this year, eked out gains as the nations took measures to curb the damage.