Geopolitical risks escalate, causing both emerging market stocks and currencies to fall.

According to Mars Finance, citing Jinshi, emerging market stocks and currencies fell for the second consecutive day, with the MSCI Emerging Markets Equity Benchmark Index dropping 0.8%, its biggest decline since mid-December last year. The currencies of Thailand, South Korea, and South Africa led the decline. Bond issuance saw its strongest start on record, with Poland joining the ranks of those issuing bonds at low borrowing costs. The market is focused on Friday's non-farm payroll data, which could provide clues about the Federal Reserve's interest rate path. Ian Simmons, a fund manager at Fiera Capital in London, said the dollar is likely to continue to weaken.