Inflation fears saw emerging market stocks extend declines for a third straight session on Friday, ahead of US payrolls data, with the EM tech sector recording slightly sharper declines. An uptick in US Treasury yields overnight in anticipation of the data weighed on global stocks. Russia’s stocks benchmark fell 0.6 per cent, retreating from all-time highs with financial shares leading declines. The lira and yuan racked up weekly losses, while most other currencies were set for weekly gains. If the gas can be commercially extracted, the discovery could transform Turkey’s dependence on Russia, Iran and Azerbaijan for energy imports.

Source: The Irish Times June 04, 2021 09:45 UTC