Emerging-Market Assets Retreat as China Takes ‘Two Steps Back’
- Currencies set for biggest drop in a month, stocks halt rally
- El Salvador, Ecuador dollar bonds among the top performers
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Emerging-market currencies and stocks fell as disappointing data from China heightened investor anxiety surrounding the nation’s sputtering economy.
MSCI Inc.’s gauge of developing currencies sank 0.5%, headed for its biggest drop in nearly a month, as currencies from Hungary to Chile fell with the Chinese yuan. The key emerging-market equities index lost 1%, halting a two-day advance and on track for its largest decline since Aug. 25.