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Markets Now: Emerging Markets Feel the Fed Pain

Want to know why the Dow Jones Industrial Average is doing what it's doing? 5:02 p.m. Emerging-market currencies and stocks slumped on Wednesday after the Federal Reserve increased the interest rates. Brazil’s Ibovespa stock index, however, was down about 0.9%, while the MSCI Emerging Markets index was down 0.7% after a two-day rally.