Emerging Markets Cap Dismal Quarter Shaken by War, Inflation
- Stocks, currencies and dollar bonds were trampled in 1Q
- Russian war in Ukraine, inflation remain key risks this year
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Emerging markets closed on a dismal first quarter, trampled by the impact of Russia’s war on Ukraine, rising global inflation and risks such as China’s regulatory crackdowns.
The MSCI Inc. gauge of developing shares slumped for a third straight quarter, its worst run since 2018. Dollar bonds from emerging government and companies are down the most since the onset of the pandemic, and 15 of 24 developing currencies tracked by Bloomberg are down this year, led by the Russian ruble.