A wave of sell-offs has engulfed the shares of developing countries. The growth of MSCI Emerging Markets index, since the beginning of the year amounted to about 6%, in April came to naught. This was due to concerns about the monetary policy of global central banks and ambiguous data on the Chinese economy, Profinance.ru reports with reference to Bloomberg.

Negative sentiment increased amid doubts of market participants in the Fed's move to reduce the key rate in September. China's economic statistics, published last week, disappointed investors. Despite the fact that the results of the first quarter exceeded forecasts, in March retail sales fell and industrial production was worse than expected - this was taken as a signal of slowing recovery.

The benchmark emerging market currency index collapsed to its lowest level in a year after the release of retail sales statistics in the United States early last week. It exceeded expectations, which led to a five-day rally of the American currency.