Emerging-market stocks and currencies faced pressure on April 22, with the MSCI emerging-market currencies index posting its worst single-day performance in over a week at a 0.3% decline. Oil prices climbed above $100 per barrel after US-Iran negotiations stalled and military activity intensified near the Strait of Hormuz. Eastern European currencies led the decline, reflecting the region’s particular vulnerability to energy price shocks. Conversely, the Chilean peso and Colombian peso each gained roughly 0.6%, benefiting from their status as commodity exporters. Total crypto market capitalization fell 1.24% on the same day, amid a broader selloff of risk assets.
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