The moves followed Iran’s attacks on a major LNG site in Qatar, one of several energy assets it pledged to target following strikes on the Islamic Republic’s giant South Pars gas field. The worsening war situation is raising concerns around inflation, hitting investor sentiment globally.
(March 19): Emerging market equities and currencies fell for the first time this week as oil prices surged after attacks on some of the Middle East’s most important energy facilities.
MSCI’s EM Index declined 2%, the most since March 9, while a similar gauge for emerging currencies fell 0.6%, set for its lowest level this year. The Thai baht, Philippine peso and Malaysian ringgit led the drop in currencies on Thursday.
