Bear Grip Tightens on Emerging Stocks as Half of 30 Markets Wilt

Fifteen of the 30 largest equity markets among emerging economies have extended losses from their peaks to 20 percent or more, fulfilling traders’ definition of a bear market. China and Russia have led the pack, tumbling more than 30 percent each. The remainder are either in a correction, or on the brink.

The rout comes as the Federal Reserve moves closer to raising borrowing costs for the first time in almost a decade, after central banks worldwide boosted stimulus measures to patch up economies following the global financial crisis.