|Day's range||37,246.62 - 37,533.17|
|52-week range||24,618.09 - 37,874.94|
Emerging-market currencies rounded off a winning month, defying the prospect of further rate hikes by the Federal Reserve, as more developing-nation central banks deployed tighter monetary policies to backstop local markets. Trade tension between China and the U.S. escalated as some $200 billion of Chinese products became subject to U.S. tariffs on Sept. 24, on top of $50 billion of existing levies.
Emerging-market stocks, currencies and bonds were unfazed by an escalation in the U.S.-China trade dispute, rising for a second week as the dollar retreated. The Chinese yuan had its first weekly gain this month as Premier Li Keqiang said the country won’t devalue its currency in order to make its exports more competitive amid trade tension with the U.S.
U.S. stocks rose to a new record on Thursday, prompting President Donald Trump to mark the occasion with a tweet that, in part, said "Congratulations USA!" That's all well and good, but what investors really care about is relative performance, as in how one asset, security or market is performing or valued relative to others. In that sense, U.S. stocks are suddenly falling short. Although the S&P 500 Index has gained about 1.50 percent since Sept. 11, the MSCI All-Country World Index of equities excluding those from the U.S. has jumped 3.71 percent.
The selloff pummeling emerging market currencies shifted to stocks as contagion concerns weighed on risk assets and President Donald Trump threatened to impose tariffs on an additional $267 billion of Chinese goods.
Argentina has a new refrain: 30 — it’s a magic number. Just after President Mauricio Macri completed 30 months in office, inflation looks set to jump to a staggering 30 percent by the end of the year. It’s all an unfortunate confluence for Macri, who swept to office in 2015 vowing to jump-start the economy by enticing foreign investment and slashing inflation.
The iShares MSCI Emerging Markets exchange-traded fund (EEM) is down more than 7 percent for the year as trade tensions between the world's largest economies intesify. Among the biggest decliners in emerging markets were Argentine, Turkish, Brazilian and Chinese shares. “This really resulted from the escalation in trade tensions on multiple fronts,” says one analyst.
Emerging-market stocks and currencies extended gains into a third day as the U.S. dollar resumed losses amid a lull in the trade war.
Emerging markets joined a rebound in riskier assets after a selloff that drove stocks and currencies to their worst quarter since September 2015 amid escalating tensions between Washington and Beijing....
Stocks in developing nations slumped as heightened concern that a trade war will sap global economic growth put equity gauges worth $8 trillion in a bear market. Currencies also retreated and are heading ...
Bloomberg News reported that Latin America's third-largest economy could get a $30 billion loan from the IMF, lifting Argentina's currency from a record low. The Financial Times and Reuters also reported that Argentina is seeking a credit line. For the year, the peso is down more than 23 percent against the greenback despite Argentina sporting the highest overnight interest rates in the world.
No one loves Argentina right now, but a 58% profit could change investors' minds.