Emerging markets equities and currencies fell after Fed chair KEVIN WARSH delivered hawkish remarks and markets priced a higher path for US rates. The MSCI Emerging Markets index dropped as much as 1.4%, its largest intraday fall since Aug. 24, with South Korea’s benchmark leading losses. An EM currency index was poised to post its first decline after nine consecutive trading-day gains, with the Indonesian rupiah underperforming peers. Market attention is on further Fed signals; renewed Middle E

Emerging markets equities and currencies fell after Fed chair KEVIN WARSH delivered hawkish remarks and markets priced a higher path for US rates. The MSCI Emerging Markets index dropped as much as 1.4%, its largest intraday fall since Aug. 24, with South Korea’s benchmark leading losses. An EM currency index was poised to post its first decline after nine consecutive trading-day gains, with the Indonesian rupiah underperforming peers. Market attention is on further Fed signals; renewed Middle East tensions could amplify volatility, BNY Mellon Asia strategist Wee Khoon Chong said, adding higher US yields and escalating regional risk are weighing on risk appetite.