Deepening bear mkt sees $1 trn wiped off emerging equities since 2018 peak

China's tariff-hit slowdown and weakening yuan are among the causes of the wider emerging market malaise and shares in major Chinese firms are firmly in the firing line

A selloff in global stocks tore like a wrecking ball through emerging equities on Thursday with the key index flirting with its biggest daily tumble since the surprise Brexit vote stunned markets in June 2016.

A toxic cocktail of rising US Treasury yields and a strong dollar; tighter funding costs and slowing domestic growth; an escalating Sino-U.S. trade war and rising oil prices have roiled emerging markets in recent weeks, sending MSCI’s emerging market index .MSCIEF down more than 25 percent from January’s peak.

The emerging benchmark is now falling deeper into bear market territory - defined as peak-to-trough losses