*

EM stocks down 2.7%, FX down 0.3%; Stocks on pace for

worst week

since April 7

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Emerging Asia stocks plunge 3%

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Ukraine's bonds extend rally as US-backed truce momentum

builds

By Nikhil Sharma

Nov 21 (Reuters) - Emerging Market stocks crashed on

Friday, tracking a dramatic global selloff after U.S. jobs data

failed to quell uncertainty about the Federal Reserve's policy

path, even trampling optimism from Nvidia's impressive earnings.

MSCI's index for emerging market equities tumbled

2.7%, on pace for its worst week since April 7, when U.S. tariff

announcements triggered a global market rout.

The MSCI emerging Asia stock index slid 3%,

influenced by Wall Street, where major indexes swiftly reversed

course on Thursday despite an early boost from Nvidia's upbeat

forecast, as concerns about a potentially overvalued AI sector

resurfaced.

"It was easier to recover from the tariff slump in stocks,

since one man, President Trump, had to do one thing, reduce

tariffs, for stocks to recover," Kathleen Brooks, research

director at XTB, said in a note.

"This time it's different. There is no single thing that

needs to change; the market instead has buyer's remorse over

pushing tech stock valuations too high, and this will take time

to work its way out of the system.

Meanwhile data showed the U.S. added more jobs than expected

in September, while a rise in the unemployment rate and downward

revisions to prior months together fueled uncertainty around

whether Fed policymakers will cut rates next month.

An index of emerging market FX weakened 0.3%

- on track for its worst week since late July - as investors

assessed progress towards a peace deal to end the Russia-Ukarine

war.

Ukraine's international bonds extended gains on Friday ahead

of an expected meeting between Ukrainian officials and a U.S.

delegation to hammer out peace terms.

The 2034 maturity note was up 1.1 cents to

bid at 56.62 cents on the dollar.

A data-light week in Central-Eastern Europe, had Hungary's

policy decision as a key highlight. The Hungarian central bank

delivered an expected pause in the base rate at the European

Union's joint-highest level of 6.5%, amid fears of fiscal

loosening and an uncertain inflation outlook.

The forint dropped 1% on Friday, on track to erase

early-week gains. The main stock index lost 0.9%.

The Czech koruna eyed its worst week since May,

down 0.2% on the day, while Prague's main stock index shed

1.1%.

Moves in Polish stocks this week were dictated by a flood of

corporate earnings alongside global sentiment. Warsaw's

benchmark index fell 3.1% on the week.

Quarterly results from Poland's largest e-commerce company

Allegro and media and telecoms group Cyfrowy Polsat ( CYFWF )

disappointed, while state-controlled energy group

Orlen's ( PSKOF ) third-quarter profit jump also failed to lift

investor confidence.

The Polish zloty dropped 0.4% on Friday, set for

its worst week since early June.

Elsewhere, U.S. President Donald Trump on Thursday removed

his 40% tariffs on Brazilian food products, including beef,

coffee, cocoa and fruits that were imposed in July over the

prosecution of its former president and Trump ally Jair

Bolsonaro.

For TOP NEWS across emerging markets

For CENTRAL EUROPE market report, see

For TURKISH market report, see

For RUSSIAN market report, see