Reuters: US Dollar Report: EMERGING MARKETS-Slump 3 percent as Fed signals end to stimulus

Reuters: US Dollar Report Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

EMERGING MARKETS-Slump 3 percent as Fed signals end to stimulus Jun 20th 2013, 07:17 LONDON, June 20 | Thu Jun 20, 2013 3:17am EDT LONDON, June 20 (Reuters) - Emerging equities fell 3 percent on Thursday in tandem with most other higher-risk asset classes after Federal Reserve chairman Ben Bernanke laid out a timetable for the end of the U.S. bond buying programme. MSCI's emerging equity index chalked up its biggest daily fall since October 2011, bringing weekly losses to over 6 percent as U.S. 10-year Treasury yields surged to 15-month highs. Sentiment was battered further by weak Chinese data that contributed to pushing Shanghai shares down almost 3 percent. In emerging Europe Russian and Turkish stocks fell 3.5 percent. Most emerging currencies fell heavily with the Russian rouble and South African rand down more than 1 percent to the dollar while earlier in Asia central banks in India and South Korea intervened to stem currency losses.

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