Emerging-market stocks advanced to a four-month high as Federal Reserve meeting minutes eased concern about the pace of U.S. interest-rate increases. South Korea’s won climbed to the highest level since 2008.
Emerging-market stocks dropped for a second day amid concern that Chinese economic growth is slowing. The Hang Seng China Enterprises Index tumbled into a bear market and the yuan declined the most since 2008.
U.S. stocks rose, with the Standard & Poor’s 500 Index erasing losses to close at a record, as data showing stronger-than-forecast jobs growth overshadowed concern the situation in Ukraine could worsen.
U.S. stocks fell this week, dragging the Dow Jones Industrial Average below 10,000, as lower-than- estimated jobs growth and a worsening government debt crisis in Europe fueled concern the global economic recovery will slow.
The iShares MSCI Emerging Markets Index fell for a second day as the International Monetary Fund said risks of turmoil in developing nations threaten the global economy. Ukraine’s bonds plunged the most on record.
U.S. stocks fell, with the Standard & Poor’s 500 Index extending declines in the final hour of trading, amid data showed manufacturing unexpectedly climbed last month and reports on holiday retail sales.