Emerging market equities and currencies fell Thursday after oil surged following attacks on key Middle East energy facilities. MSCI’s EM Index dropped 2%, its largest decline since March 9, while an EM currency gauge fell 0.6%, hitting its lowest level this year. The Thai baht, Philippine peso, and Malaysian ringgit led currency losses. Goldman Sachs noted EM assets remain pressured as the Iran conflict raises inflation concerns and heightens sensitivity to trade and earnings fundamentals.