That took the gauge, as of Monday’s close, to the weakest-ever level relative to the S&P 500 Index in data going back to 1987. The ratio has since recovered as the emerging-market benchmark rose more than 1% in Tuesday’s session.
US stocks: US market falls as hot inflation, hawkish Fed fuel rate-hike fears
US stocks closed lower after hotter-than-expected inflation data strengthened expectations of a December Federal Reserve rate hike and raised the possibility of more aggressive tightening.