(Bloomberg) -- The iShares MSCI Emerging Markets Index declined the most in six weeks after the Federal Reserve outlined its plan for exiting stimulus measures that have spurred a rally in developing-nation equities.

The exchange-traded fund slumped 2.1% to $38.57 at 4 p.m. in New York. The MSCI Emerging Markets Index dropped 0.2% to 950.59. Russia’s Micex Index led declines among major developing-nation equity benchmarks. China’s yuan retreated below 6.20 per dollar for the first time since April, while the overnight money-market rate advanced to a one-month high and property companies spurred a slide in stocks.

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