U.S. stocks declined with emerging- market equities while base metals drove commodities lower as an unexpected drop in Chinese exports fueled concern that growth in the world’s second-largest economy is moderating.
Emerging-market stocks declined for a second day after a report showing the biggest plunge in Chinese exports since 2009 spurred concern the global economy will falter. Brazil’s Ibovespa approached a bear market.
Petroleo Brasileiro SA, Brazil’s state oil company, plans to offer $8.5 billion of debt in its second six-part offering in 10 months as it seeks to fund $221 billion of investment needs over the next five years.
The pound fell against the euro this week, touching an almost one-month low, as European Central Bank President Mario Draghi refrained from adding stimulus, damping the relative allure of the British currency.