Emerging-Market Assets Slide With AI Woes, Caution on US Data
Photographer: Tomohiro Ohsumi/Getty Images
Indexes for emerging-market assets declined as concerns persisted around AI-related stocks, and traders stepped back from boosting wagers on more Federal Reserve rate cuts following the latest US jobs data.
MSCI’s gauge for EMFX fell 0.2% on Tuesday. Earlier, some developing nation currencies were jolted by the latest US jobs report, which signaled the labor market in the world’s largest economy remained weak. The Mexican peso and the South African rand — two bellwethers of risk appetite — touched session highs before paring the advance.