Emerging market stocks extend losses, dragged down by AI selloff and oil prices.

Emerging market stocks fell for a fourth consecutive week as investors continued to pull back from AI-related holdings; rising oil prices intensified inflation concerns and further weighed on risk appetite. The MSCI Emerging Markets Index fell as much as 0.8% to 1,562.47 points, a three-month low, extending Thursday's 2.5% decline. The index is set for its longest weekly losing streak in seven months. Maybank FX strategist Shaun Lim said risk assets are currently being driven mainly by two factors: weakening sentiment in the AI sector and rising oil prices. The two do not necessarily move in sync, but their combined effect amplifies market volatility. Brent crude traded near $114 a barrel on Friday, up nearly 4% for the week.