Emerging-market stocks dropped the most in three weeks as Tencent Holdings Ltd. led a slump in technology companies from a record. Russia’s Micex Index slid after the U.S. threatened tougher sanctions over Ukraine.
The U.S. Treasury added six Crimean separatist leaders, a former Ukrainian official and the natural gas company Chernomorneftegaz to the list of those sanctioned because of Russia’s incursion into Crimea.
Ukraine’s premier sought to ease tensions among Russian speakers in the east demanding greater autonomy as President Vladimir Putin appealed to Europe to provide aid to the cash-strapped nation to ensure gas supplies.
Palladium advanced to the highest in more than two years as the U.S. threatened more sanctions against Russia, the world’s largest supplier of the metal used in pollution-control devices for cars. Gold fell.
U.K. Chancellor of the Exchequer George Osborne renewed his commitment to fiscal austerity by rebutting warnings that governments must spend more if their economies are to avoid a period of “secular stagnation.”