Due to escalating concerns over the global economy, the yield spread between emerging market bonds and comparable U.S. Treasuries widened by 45 basis points to 482 on Monday, Reuters reports, citing to the JP Morgan Emerging Markets Bond Index Plus.

Total returns for the index fell 1.92% on the day after investors dumped higher-risk assets to shore up core asset positions as the global credit crisis fuels concerns of a global recession.

A rise in the strip spread indicates increased investor risk aversion.

MSCI's Latin American stock index fell 17.87%, or 501.58 points to 2305.84.

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