OPEC failure reverberates across Emerging Markets

The failure of OPEC members to reach a production freeze agreement ended emerging market stocks seven-day winning streak.

Brent crude futures decreased 4.5 per cent to $41 a barrel after the deal fell apart when Saudi Arabia demanded Iran join as well.

Emerging market currencies declined as Malaysia's ringgit hit a three-week low, South Africa's rand fell 0.3 per cent, and Poland's slot feel 0.15 per cent.

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Read more at Reuters.