Trade war flare-up spurs biggest outflows from emerging markets since October, says Institute of International Finance
Updated : May 16, 2019 11:04 AM IST
US President Donald Trump surprised global markets last week by hiking tariffs on Chinese goods in the midst of trade negotiations, saying China had backtracked on earlier commitments. Beijing retaliated on Monday.
The emerging market exodus was led by Chinese equities, which saw outflows of $1.5 billion on Monday, after investors took $2.5 billion off the table last week, according to the IIF.