Emerging Assets Extend Losing Streak on Rate Hike Bets, Oil Gain

Emerging-market stocks and equities capped their longest streak of weekly losses in almost a year as the war in the Middle East roils markets, sending oil surging and fueling growing bets the US may raise interest rates this year.

A gauge tracking currencies in the developing world fell 0.2% Friday and is at its lowest level of 2026, while an index of emerging-market stocks fell as much as 1% on Friday. Assets hit fresh lows for the day late afternoon as oil prices spiked past $112 a barrel after CBS News reported the US is making “heavy” preparations for potential use of ground troops in Iran. Speaking at the White House this afternoon, Trump said he doesn’t want a ceasefire.