There’s been no let-up in the ‘taper tantrum’ that has demolished stocks across the emerging markets in recent months, a trend that could continue as investors turn cold on an asset class that was a market favorite until about six months ago.
Emerging market stock indexes have registered severe, in some cases double-digit, losses since the U.S. Federal Reserve first began talking about scaling back its extraordinary monetary stimulus in late May.
Indonesia’s benchmark Jakarta Composite Index – the biggest loser among emerging markets – has plunged over 20 percent in the past three months, putting it in bear market territory.
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