Measuring the Fed's Impact on Emerging Markets
Developing-nation stocks resumed losses as investor focus returned to the prospect of Britain leaving the European Union after the Federal Reserve signaled a slower pace of interest-rate increases. The MSCI Emerging Markets Index erased most of Wednesday’s gain, with technology companies leading declines in all 10 industry groups. Equity benchmarks retreated across most of Asia and money managers sought safety in government debt. A gauge of currencies held gains, with Indonesia’s rupiah and South Korea’s won advancing the most, after the Fed kept rates on hold. Chair Janet Yellen said the U.K.’s June 23 referendum was a factor in the decision and could have consequences for the global economy and markets. Tatton Investment Management CEO Lothar Mentel discusses with Bloomberg's Anna Edwards on "Countdown."