$70 billion exits emerging markets in March, biggest outflow since 2020: IIF

Foreign investors withdrew $70.3 billion from emerging market assets in March, marking the biggest outflow since March 2020, according to the Institute of International Finance (IIF). The bulk of the outflows came from equities, particularly in Asia. The sell-off was driven by rising geopolitical tensions and a sharp spike in oil prices following the Middle East conflict.