In case you’re wondering if the emerging markets rout can get any worse, remember this: things can always get worse.
For the last few weeks, a number of emerging markets currencies, led by the Turkish lira, the Indian rupee, and the Argentinian peso, were hit hard.
It looked like the fall was local, but now investors are beginning to wonder if the meltdown might spread. We take a look at some of the reasons the EM meltdown could reach into more developed markets.
Of course, this EM rout had to coincide with the 10-year anniversary of the start of the last big crisis.
On September 15, 2008, Lehman Brothers crashed, marking the start of the global financial crisis.
Tired of seeing the word “crisis”? Then just hold on until Wednesday, when Apple will be launching its newest smartphone, the successor to the iPhone X. Ok, it may not be the most exciting launch of all time, but it’s still better than obsessively watching the markets.
Source: Gulf News