Emerging markets weren't spared in the global stock-market rout Wednesday, with the iShares MSCI Emerging Markets ETF (PSE:EEM) falling 2.8%. The decline erased the popular exchange-traded fund's gain for the year, leaving it down 0.8% for 2019. U.S. stocks saw losses deepen in afternoon trade. The selloff was attributed to an inversion of the main measure of the U.S. yield curve, which is viewed as a recession signal, albeit typically with a significant lag, as well as weak economic data out of China and Europe. The S&P 500 (S&P:SPX) was off 2.7%, while the Dow Jones Industrial Average (DOW:DJIA) dropped more than 700 points, or 2.8%. The declines left the benchmark S&P 500 up 13.6% for the year and around 6% off its all-time closing high.
Aug. 14, 2019, 3:02 p.m. EDT