Vaccine Shortage Holds Emerging Markets Back from Global Rally
Developing stocks are lagging the rest of the world at a time when they should be tearing ahead.
As the pandemic spins out of control from India to Argentina, the divisions between emerging and developed markets are deepening.
Developing-nation stocks have lagged the rest of the world since the middle of March partly on concern that vaccine shortages and delays will slow economic growth. Investors pulled $1.3 billion out of emerging-market equity funds in the week ending April 21, the most in more than three months.