JOHANNESBURG - Emerging markets stocks faltered on Thursday, on fears of a global spread of the coronavirus after a spike in new cases in South Korea, while currencies in the developing world reeled under pressure from safe-haven buying of the US dollar.
The risk-off mood supported the dollar, which surged nearly 2% since Tuesday against the Japanese yen to its highest in almost 10 months. MSCI’s index for currencies slipped 0.4% to its lowest level in over two months, while stocks fell 0.3%.
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