Emerging Markets Slump on AI Concerns, US Jobs Report Jolts Currencies

• US jobs report showed weak labor market; nonfarm payrolls up 64,000 in November, unemployment at 4.6%.
• Mexican peso and South African rand briefly spiked after data, then pared gains; MSCI EM currencies little changed.
• MSCI emerging-market stocks gauge slumped 1.3% for a second session amid AI growth concerns and high valuations.
• MSCI China Index and Hang Seng China Enterprises Index fell, entering technical correction.
• Hungary and Brazil central banks held rates; Chile expected to cut; Ukraine bonds climbed on US security guarantees.

Why It Matters: Emerging markets face headwinds from weak US jobs data, AI valuation concerns, and varied central bank actions.