Ringgit slumps to 17-year low on 1MDB debt woes, growth concerns

Malaysia’s ringgit sank to a 17-year low as concern about the finances of a state investment firm at the heart of a political scandal worsened the outlook for an economy rocked by plunging oil prices and an emerging-market sell-off.The ringgit depreciated 1.3% to 4.2680 a dollar as of 10:17 am in Kuala Lumpur, reversing Tuesday’s 1.2% gain,…