Emerging markets have had a tough go of it recently. The once hot asset class has gotten beaten up, with the iShares Core MSCI Emerging Markets ETF down more than 6% in the last month.
Then the IMF lowered its growth forecasts for emerging markets this week.
And China's finance minister is now tempering expectations for growth with GDP numbers out on Monday.
Jim O’Neill, formerly of Goldman Sachs, created the acronym BRICs to group together the then-briskly growing Brazil Russia India and China – he is now writing that emerging markets are stuck on the Fed’s elevator ride.
“Not long ago, emerging-market governments complained about the Fed’s stimulus policy. They pointed to destabilizing inflows of hot money and called it a “currency war,” O'Neill writes forRead More »from Here’s What Really Went Wrong for Investors In Emerging Markets