Baht, shares fall on Fed's planned cuts | Bangkok Post: business

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Baht, shares fall on Fed's planned cuts

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  • Newspaper section: Business
  • Writer: Darana Chudasri & Pathom Sangwongwanich
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Thai shares fell by 0.58% yesterday and the baht weakened after the US Federal Reserve vowed to press on with stimulus cuts, raising more concern that the sell-off in emerging markets will intensify. 

The Fed's move has exacerbated jitters over the economic and financial health of emerging markets that was sparked by Chinese manufacturing index shrinking for the first time in six months this month to below the 50-point threshold and the devaluation of the Argentine peso.

At least US$1.8 trillion has been erased from global stocks since Jan 22 as currencies from Turkey to Argentina slid, Bloomberg reported.

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