RE: SP5 Sep 2018 16:02
(Bloomberg news)
European and Asian shares open lower, as enduring pressure in emerging markets intensified concerns of contagion.
The rout in emerging markets showed no sign of letting up, with most currencies weakening and an index of stocks nearing a bear market.
South Africa’s rand led the sell-off, falling to the lowest level in more than two years, followed by Mexico’s peso. The MSCI Emerging Markets Index of shares dropped for a sixth day, set for its steepest slide in three weeks. Among the worst-hit were Saudi Arabia, where shares were poised for the biggest drop since oil prices collapsed below $30 a barrel in January 2016, and Indonesia, which saw its benchmark index tumble the most in about two years amid concern the depreciating rupiah will lead to higher corporate borrowing costs.
Is a worldwide stock market downturn, apart from the US