(Bloomberg) Emerging-market stocks fell for a fifth day in the longest stretch since December and a selloff in currencies deepened on speculation a U.S. jobs report Friday will underscore prospects for the Federal Reserve to raise interest rates as soon as June.
The four-day drop in currencies was the most since January, when indexes of developing-nation shares and exchange rates reached their lowest levels since 2009. Philippine equities declined more than 1 percent before Monday’s presidential elections, while stocks of commodity-exporter Malaysia headed for the weakest close in three months. A rebound in oil supported gains in the South African rand and Mexican peso.
