Sharp outflows from exchange-traded funds (ETFs) investing in emerging markets (EMs) accentuated the market fall last week. Many global markets saw their worst weekly setback since the 2008 global financial crisis.
The MSCI EM index dropped 7.2 per cent last week as investors, spooked by the impact of the coronavirus outbreak on the economy and corporate earnings, pulled out from risky assets. According to the data compiled by Bloomberg, US-listed ETFs that buy EM stocks and bonds saw redemption to the tune of $3.73 million — most in a more than a year. Of this, nearly $3.4 ...
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First Published: Mon, March 02 2020. 22:54 IST
