The credit crisis has driven emerging-market bonds to their worst week in four years, Bloomberg News reports.
Investors shunned emerging-market debt as growing evidence the U.S. may slip into a recession triggered a plunge in commodities, the biggest source of export revenue for many developing nations.
The U.S. economy lost 159,000 jobs in September, the most in five years, a government report showed today. Commodities have tumbled 9.9 this week, the most since at least 1956, according to the Reuters/Jefferies CRB Index. Oil, the biggest export from Russia, Venezuela, Mexico and Ecuador, fell 13% in the week, leaving it down 37% from a July record.
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