Emerging-market stocks declined this week, capping the worst start to a year since 2009, as signs of a Chinese slowdown and worse-than-estimated Russian economic data bolstered concern the global recovery will falter.
Investors are pulling money from exchange-traded funds that track emerging markets at the fastest rate on record, as China’s slowing growth and cuts to central- bank stimulus sink currencies from Turkey to Brazil.
Global stocks tumbled the most since June, as the biggest drop in emerging markets in two months prompted investors to seek havens in Treasuries, German bunds and yen. Natural gas reached a three-year high.
U.K. stocks were little changed as a surge in the pound to a one-year high against the euro signaled investors expect interest rates to rise even after Bank of England’s assurance to keep its benchmark rate low.
If the regulation is found "content-neutral" and narrowly tailored to protect the exercise of the constitutional right to abortion, it will survive. If not, an increasingly pro-free-speech court may strike it down.
President Barack Obama is seeking to build ties with Pope Francis, the new spiritual leader of the world’s 1.2 billion Roman Catholics, for help on issues such as Mideast turmoil, climate change, and global poverty.
Michael Novak, an author and prominent Catholic theologian, said in an interview on Bloomberg Television’s “Political Capital with Al Hunt,” airing this weekend, that the political right is overreacting in its criticism of Pope Francis and predicted the pontiff’s economic views would become more friendly toward capitalism.