Bloomberg:
Emerging-market equity traders have been caught out making the same mistake that cost them $5.8 trillion last year: underestimating the strength of the U.S. dollar.
MSCI Inc.’s index for stocks is headed for a more than 8% drop in May, helping to erase in excess of $1 trillion in shareholder wealth. The greenback’s resilience after President Donald Trump revealed he was in no rush to end the U.S. trade war with China surprised traders, who had priced in a quick end to the tensions.
Editor Srinivasan Sivabalan in London talks to Dubai-based Dana El Baltaji about where stocks can go from here.
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