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Emerging markets face threat as Turkish lira plunge sets off selling spree

Emerging market equities measured in US dollars are strongly linked to the performance of local currencies

Reuters  |  New York 

As Turkey's financial markets spiral down, threatening the country's economy, investors are gauging whether emerging markets as an asset class are in danger of falling out of grace. The following selection of data points indicate there is relative weakness in Argentina and South Africa, while Asia and Mexico show strength. A plunge in the Turkish lira has set off a wave of selling across emerging market assets, reviving fears of contagion that has been the sector's Achilles heel for decades. ALSO READ: Rupee hits record low of 70.08 a dollar, Turkey rout ...

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First Published: Wed, August 15 2018. 07:04 IST