(There will be no London-based emerging markets report on
Friday April 6 and Monday April 9 owing to Easter holiday.)
* Stocks snap 3-day winning streak on Fed minutes
* Russian stocks lead losses; down 1.7 pct
* Lira eases but more hawkish c.bank could support
By Sujata Rao
LONDON, April 4 (Reuters) – Emerging stocks fell 1 percent
on Wednesday, snapping a 3-day winning streak and currencies
across the developing world weakened after the U.S. Federal
Reserve dashed investors’ expectations of a third money-printing
round.
Minutes from the Fed’s March meeting showed the U.S. central
bank has backed away from embarking on more monetary stimulus,
or QE3.. That boosted the dollar and pushed up
Treasury yields to 2-week highs, hurting stocks and commodities.
By 1000 GMT MSCI emerging stocks fell 1.1 percent
while emerging Europe dropped 2.4 percent, hit
by big losses in Moscow and Johannesburg.
Commodity-heavy Russia fell 1.7 percent while South Africa
lost 1.4 percent, its biggest one-day loss in a month.
Continued…
