Emerging Markets Bear Brunt of Selling as Risk Premium Soars
- Developing-economy stocks slump most since 2020’s Covid shock
- Ruble lingers just off all-time weakest level of 89.60
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Emerging markets are bearing the brunt of investors’ flight from risky assets after Russia’s full-scale invasion of Ukraine.
The benchmark for developing equities slumped by the most since the coronavirus first shocked global markets about two years ago, while the ruble led losses in 31 major currencies tracked by Bloomberg. An across-the-board selloff gripped bonds, sending the risk premium on developing-nation government debt to its highest since July 2020.