Emerging Markets Surge as US Supreme Court Strikes Down Trump Tariffs

• Emerging-market currencies and stocks climbed after the US Supreme Court struck down President Donald Trump’s global tariffs.
• An MSCI Inc. gauge of developing-nation currencies rose 0.1%, with Latin American currencies and the South African rand hitting session highs.
• The ruling highlights policy uncertainty from the US and supports diversification, according to Wells Fargo strategist Alvaro Vivanco.
• US economic data showed slower-than-forecast GDP growth and higher-than-expected inflation, sending mixed signals on interest rates.
• India’s rupee declined 0.3% due to central bank intervention, while Kenya and Mozambique bonds underperformed.