(Bloomberg) -- Emerging-market shares aren't confirming the latest move higher in U.S. stocks, in a worrying sign for the American equity market, according to Tom McClellan, editor of the McClellan Market Report. The iShares MSCI Emerging Markets ETF, which holds large- and mid-cap stocks from developing nations, shows a “meaningful looking divergence” from the S&P 500 Index, McClellan wrote in a note Wednesday. While it's possible emerging equities could converge up with their U.S. counterparts, McClellan's conclusion is that a pause is looming for the American rally.
To contact the reporter on this story: Cormac Mullen in Tokyo at cmullen9@bloomberg.net
To contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Matt Turner
©2019 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
