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Emerging Markets Cap Turbulent Month With Losses Before US Vote [Yahoo! Finance Canada]
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Most Read from Bloomberg The MSCI gauge for stocks slid for a third day, closing off October with monthly losses of more than 4%, the biggest drop since January. All major emerging-market currencies have retreated against the dollar this month, fueling a 1.6% decline for the MSCI gauge for developing currencies. “We had a confluence of events in October,” said Rajeev De Mello, chief investment officer at Gama Asset Management. “For emerging markets, the combination of higher US yields, a stronger dollar, and the risks of a renewed trade war overshadowed the improvement in the growth picture.” On the day's moves, MSCI's gauge for emerging stocks slumped with global equities, as stocks erased their October gains after disappointing outlooks from Big Tech companies such as Microsoft Corp. and Meta Platforms Inc. Meanwhile, MSCI's companion gauge for currencies rose for a second day with broad dollar weakness, though Bloomberg's gauge for the dollar capped off the best month in mor
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