Emerging Stocks Plunge on Trump's Latest Moves Against China
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Emerging-market stocks plunged Monday, falling the most in more than three weeks, as US President Donald Trump's latest executive order targeting China stirred up a new round of risk aversion.
MSCI Inc.'s benchmark for EM equities ended the day 1% lower, after rallying 10% in the past six weeks driven by bets that Chinese technology companies, especially Alibaba Group Holding Ltd., are making strides in artificial intelligence. That had taken the index's valuation to a four-month high, positioning it near highs that have sparked selloffs over the past two years.
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