U.S. tech stocks decline, hitting risk sentiment; emerging market assets may face the largest drop in three weeks
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The decline in U.S. tech stocks is expected to lead to the largest drop in emerging market assets in three weeks, with the MSCI Emerging Markets Currency Index falling by 0.3% and the Emerging Market Equity Index down by 1.3%. The New Taiwan Dollar and South Korean Won led the decline, with Taiwan Semiconductor being the company with the largest drop. Investors are focused on the Federal Reserve's interest rate direction, anticipating a rate cut in September. The portfolio manager at PineBridge Investments stated that the plunge in tech stocks has impacted market sentiment and may affect emerging market credit
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