Filed Under:Life Insurance, Life Planning Strategies

Emerging stocks drop from 14-month high on payrolls report

The MSCI Emerging Markets Index lost 0.2 percent to 1,058.78 after closing yesterday at its highest since May 9, 2013.
The MSCI Emerging Markets Index lost 0.2 percent to 1,058.78 after closing yesterday at its highest since May 9, 2013.

(Bloomberg) -- Emerging-market stocks fell from a 14-month high after the U.S. jobless rate slid to an almost six-year low, bolstering the case for the Federal Reserve to rein in stimulus measures. South Africa’s rand led currencies lower.

The MSCI Emerging Markets Index lost 0.2 percent to 1,058.78 by 2:42 p.m. in London, after closing yesterday at its highest since May 9, 2013. The rand weakened 0.5 percent against the dollar. U.S. employers added more workers than forecast in June and the unemployment rate dropped to 6.1 percent, Labor Department figures showed.

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Nichole Morford

Nichole Morford
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