EM Assets Halt Advance as Hormuz Concerns Weigh on Risk Appetite

Emerging-market stocks and currencies fell on Wednesday, halting a weekly advance, after attacks in the Strait of Hormuz pushed oil prices, US yields, and the dollar higher. The risk-off move weighed on EM assets as investors fled to safe havens. The flare-up raised concerns about supply disruptions and global inflation, pressuring currencies and equities across developing economies.