Emerging-market assets fall due to oil surge and AI jitters ahead of Fed decision

Emerging-market currencies and stocks fell as rising oil prices and concerns over artificial intelligence development weighed on markets ahead of an expected Federal Reserve rate hike.

An MSCI Inc index of developing-nation currencies dropped 0.2% on Monday, while South Korea's Kospi slid more than 3% following calls from major AI firms for a slowdown in development.

Brent crude rose toward $110 per barrel after Saudi Arabia closed its East-West pipeline following multiple attacks before paring gains after statements by Donald Trump.