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There Are Signs Africa’s Market Rout Is Not Over Yet

  • Continent’s stocks, bonds did worse than EM average in 2018
  • Risks for next year include elections in South Africa, Nigeria
A long line of rail travelers pass along the concourse at Mombasa SGR Terminus station in Mombasa, Kenya.

A long line of rail travelers pass along the concourse at Mombasa SGR Terminus station in Mombasa, Kenya.

Photographer: Luis Tato/Bloomberg
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Traders in African markets have had a year to forget, and there are signs the rout’s not over yet.

The continent’s stocks and bonds have performed worse than those of all other emerging-market regions in 2018, reversing their outperformance of last year.