China Leads Emerging Markets Lower
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Emerging markets sold off in NY today, as US markets paired losses. The selloff took aim at companies in China, and could be related to positioning ahead of economic data out later this week.
Negative headlines out of Europe didn't help the sector, since Europe is one of China's biggest export markets.
Today's biggest loser, iShares FTSE China 25 Index Fund (NYSE: FXI), has dropped 5 percent in the past 5 trading session and is poised to test monthly lows after dropping 1.5 percent today.
iShares MSCI Emerging Markets Index (NYSE: EEM) has already cracked four month lows and is searching for bottom.
The Chinese government is expected to report CPI and PPI data on Friday, along with retail sales and industrial production.
Negative headlines out of Europe didn't help the sector, since Europe is one of China's biggest export markets.
Today's biggest loser, iShares FTSE China 25 Index Fund (NYSE: FXI), has dropped 5 percent in the past 5 trading session and is poised to test monthly lows after dropping 1.5 percent today.
iShares MSCI Emerging Markets Index (NYSE: EEM) has already cracked four month lows and is searching for bottom.
The Chinese government is expected to report CPI and PPI data on Friday, along with retail sales and industrial production.
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