EM Stocks Down 10% From Peak as Oil Surges, Currencies Slide

An emerging-market stock index fell more than 10% from its recent peak as escalating Middle East tensions pushed oil prices sharply higher, triggering a broad risk-off move. Most emerging-market currencies weakened versus the dollar in a flight to safety, increasing pressure on EM asset-class returns and likely elevating volatility across markets.

Analysis

An emerging-market stock index fell more than 10% from its recent peak as escalating Middle East tensions pushed oil prices sharply higher, triggering a broad risk-off move. Most emerging-market currencies weakened versus the dollar in a flight to safety, increasing pressure on EM asset-class returns and likely elevating volatility across markets.