Emerging market assets continued their decline as the price of oil fell and Japanese bonds faced a massive selloff.
US crude maintained its price at just under $40 per barrel, while overall oil prices fell across the commodities markets.
Last week's Bank of Japan meeting, which announced as a result a less than expected stimulus, prompted a massive selloff of Japanese government bonds.
The selloff was the largest in over three years.
While assets and emerging market stocks took a hit, the MSCI Emerging Markets Index continued to outperform developed stocks as it maintained year-to-date gains of almost 10 per cent.
Read more at Reuters.