World stock markets pushed lower on Wednesday amid simmering trade tensions and the spreading financial firestorm across emerging market currencies. MSCI’s emerging markets equity index dropped for the sixth straight day, losing more than 1% in Asia and nearly fully reversing the late August bound in the benchmark.
The S&P 500 suffered its biggest daily percentage drop in nearly four years and the Dow confirmed it had entered into correction territory as fears of a China-led global slowdown rattled investors around the world.