Emerging-Market Rout Is Longest Since 2008 as Confidence Cracks
- Stocks, currencies witness longest bout of pessimism since ’08
- Current slump beats taper tantrum, China shock in length
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For stocks, it’s 222 days. For currencies, 155 days. For foreign-currency bonds, 240 days.
This year’s rout in emerging markets has lasted so long that it’s taken even the most ardent bears by surprise. Not one of the seven biggest sell-offs since the financial crisis -- including the so-called taper tantrum -- inflicted such pain for so long on the developing world.