Emerging markets hit by steepest weekly fall since March 2026
NewsBytes | May 18, 2026 10:39 AM CST
Borrowing costs rise for emerging markets
Oil prices shot up past $109 a barrel thanks to tensions around Iran and a blocked Strait of Hormuz, with no breakthrough after Trump's China trip.
At the same time, global bond yields climbed sharply (US 10-year at 4.6%, Japan's 30-year at its highest in decades), as fresh US inflation data made a December Fed rate hike look more likely.
All this means it's getting pricier for emerging economies to borrow money—and investors are feeling nervous, making it a rough ride for these markets right now.
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