Shares of high-dividend-yielding companies are trading near the lowest level in almost three years relative to the market, as the prospect of higher interest rates makes these stocks less attractive to investors.
Equity volatility from India to Brazil and Turkey jumped the most in two years as turmoil spread across global markets amid a selloff in developing-country currencies and growing concern over China’s economy.
The yen fell the most this year versus the dollar since 1982 as Japan’s Prime Minister Shinzo Abe implements plans to boost economic growth and rid the nation of deflation. Federal Reserve discussions of reduced monetary stimulus also boosted the greenback against Japan’s currency.
The dollar slid to a three-week low against the yen before data tomorrow that economists said will show U.S. retail-sales growth slowed, strengthening the case against faster tapering by the Federal Reserve.