* Poland's zloty flat ahead of rate decision

* Investors sell longer-dated riskier EM bonds

* EM stocks, FX drops to over 9-month lows

Oct 4 (Reuters) - Asset classes across emerging markets took a dive on Wednesday with stocks and currencies hitting multi-month lows pressured by an ongoing rout in global bond markets, while investors also awaited an interest rate decision by the Polish central bank.

MSCI's gauge for emerging markets equities fell 1.1% to their lowest since late November, while currencies were down 0.1% after hitting a nine-month low earlier in the session.

Hurting risk-sensitive assets globally, the yield on longer-dated U.S. Treasury notes hit fresh 16-year highs on mounting speculation that the Federal Reserve could keep monetary policy restrictive for longer given recent robust economic data.

Emerging market hard-currency bonds also suffered sharp drops, especially in the junk rated part of the asset class, with longer-dated issues that are more sensitive to global interest rate moves suffering the biggest declines.

Spreads of high-yield emerging market debt over safe haven U.S. Treasury as measured by the JPMorgan EMBI Global Diversified widened to 821 basis points, the highest level since late June and some 90 bps above the August 1 trough.

Longer-dated bonds issued by more fragile and riskier nations such as Pakistan, Egypt, Angola but also bigger ones such as South Africa suffered drops well in excess of 1 cent on the dollar, Tradeweb data showed.

"Uncertainty around the outlook for Fed policy is likely to weigh on equity markets for now," said Mark Haefele Chief Investment Officer, UBS Global Wealth Management in a note.

Haefele recommends adding exposure to parts of the market that have lagged this year, such as EMs.

Among currencies, the Polish zloty will be in focus today. The currency was flat against the euro ahead of a local interest rate decision where economists widely expect a 25 basis point cut to 5.75% at 1200 GMT.

"We believe the NBP will choose a more cautious pace of rate cuts this time around, especially in an effort to keep the zloty in check," ING's EMEA FX & Fixed Income Strategist Frantisek Taborsky said.

The Indian rupee was flat as the Reserve Bank of India kicked off a two-day monetary policy meet.

Meanwhile, the rouble was trading close to the 100 level against the dollar it breached in the previous session, with the market waiting to see whether Russian authorities intervene.

For GRAPHIC on emerging market FX performance in 2023, see http://tmsnrt.rs/2egbfVh For GRAPHIC on MSCI emerging index performance in 2023, see https://tmsnrt.rs/2OusNdX

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(Reporting by Johann M Cherian and Amruta Khandekar in Bengaluru; Additional reporting by Karin Strohecker; Editing by Toby Chopra)