Tencent Sends Emerging-Market Shares to Third-Worst Day of Year
- Tencent’s travails spurs equity slump from China to the U.S.
- Tech share slump drags down emerging-market stock indexes
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Investors were looking for contagion in all the wrong places.
The travails of Chinese internet giant Tencent Holdings Ltd. matter more to emerging-market equities than Turkey’s turmoil, with hints that technology stocks stateside won’t be immune from this storm.