Emerging Markets Find They Aren’t Insulated From the Tumult
The entire world is turning topsy turvey. Even countries where the market is a relatively new item are suffering from the same uneasiness. Emerging markets took one of their biggest collective tumbles in a decade as stock markets from Mexico to Indonesia to Russia were gripped by fears of a collapse.
“Many of the world’s fastest-growing economies thought they had insulated themselves from problems in the developed world. But economists said that simultaneous turmoil in Europe and the United States was too much to bear. “The potential of a global recession is awakening emerging markets that they will be hit stronger than we thought before,” said Alfredo Coutiño, a senior economist at Moody’s, the credit rating agency.”
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