Summer Sale Extended! Get unlimited digital access for 13 weeks for $13.
Topics

Peru

Sinking currencies point to jitters about emerging economies

The damage spans the globe. Thailand's baht. Kazakhstan's tenge. South Africa's rand. Peru's nuevo sol. In emerging markets worldwide, currencies are plunging over fears that developing economies are on the verge of a crippling fall. Success stories until recently, emerging economies are seen as casualties now — of slower growth in China, plunging prices for commodities like oil and iron ore, the prospect of higher U.S. interest rates and homegrown threats. The damage has spilled across oceans, with the turmoil jolting investors in New York, Tokyo and Europe. Investors there worry that China and other major emerging economies will reduce their imports. They...

Loading
81°