Emerging Stocks Enter Correction as Traders Weigh US Policies
- MSCI EM equity index closed 10% lower from an October high
- Goldman Sachs trims forecast for benchmark EM stock gauge
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Emerging-market stocks index entered correction territory Thursday, the result of a months-long rout brought on by uncertainty over US policies and China’s growth prospects.
The MSCI EM stock index dropped 0.4% and registered a 10% loss since an Oct. 2 high, marking a correction. The slide was led by Samsung Electronics Co. Ltd and Taiwan Semiconductor Manufacturing Co. as new measures planned by the Biden administration are set to expand semiconductor trade restrictions to most of the world.