Wounded Emerging Markets Draw No Comfort From Big Fed Stimulus
- Fed cuts rates to near zero and deploys massive bond buying
- Emerging stocks fall almost 7% on Monday; currencies weaken
Vehicles sit in traffic at a quarantine checkpoint area in Cainta City, Metro Manila, the Philippines, on March 15.
Photographer: Veejay Villafranca/BloombergThis article is for subscribers only.
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It’s already clear Friday’s rally was not the turning point some emerging-market investors hoped for. Nor will the U.S. Federal Reserve’s emergency rate cut on Sunday night be enough to reverse what’s the fastest collapse in risk assets in more than a generation.