Fresh wave of shares and currency sell-offs hits emerging markets

Indonesia, Saudi Arabia and China are among those hit by trade wars and strong dollar

Emerging markets have been hit by a renewed wave of sell-offs in shares and currencies, with Indonesia, Saudi Arabia and China among the countries hit by trade war tensions and a strengthening dollar.

European shares also fell on Wednesday as investors registered concerns over the impact on the global economy if more emerging markets were to follow Argentina and Turkey into financial crisis.

Related: Emerging markets: who's taking the biggest hits and why?