Emerging Market equities have tumbled over 4% in the last 2 days on heavy volume…
The last time the world experienced a major Emerging Market meltdown, the US was still by far the world’s major ‘consumer’. However, as the following chart from JPMorgan shows, that is very much not the case anymore…
and the last few days ugly echoes of the mid-Summer Taper Tantrum in Emerging Markets (most notably Asia), while being shrugged off by most, may be much more important to any sustained global recovery than your friendly local asset-gatherer would ever care to admit.
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/fysu1nEtBpI/story01.htm Tyler Durden