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Investors exit US ETFs that track EMs

Worries over China slowdown and the prospect of rate hike spark US$6b pullout in third quarter

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STOCK ROUT: Shares in Brazil slid to a six-year low in the third quarter on concern that the country will struggle to recover from the worst recession since the 1930s amid a political stalemate and a corruption investigation.

New York

TRADERS dumped exchange-traded funds (ETFs) tracking emerging market (EM) stocks at the fastest pace in over a year last quarter amid concerns over the slowdown in China, a selloff in commodities and the prospect of higher interest rates in the US.

Investors pulled US$6.1