(Bloomberg) -- The iShares MSCI Emerging Markets Index exchange-traded fund fell for the first time in three days on concern U.S. lawmakers will fail to reach a budget deal. South Africa’s rand jumped after surprising factory data.
The developing-nation ETF slipped 0.3 percent to $41.86 at 10:10 a.m. in New York. The MSCI Emerging Markets Index dropped less than 0.1 percent to 1,012.55 as 423 stocks retreated, while 320 gained. The Philippine Stock Exchange Index led losses among 94 global equity gauges tracked by Bloomberg on inflation concern. Brazil’s Ibovespa snapped a three-day rally after industrial output in China, its top trading partner, trailed estimates. The rand strengthened as much as 1.2 percent.