MSCI Emerging Markets Index is getting the brunt of international turmoil from changes in Turkish leadership to the depressing economy in Ukraine.
The index is now on its longest losing streak since 1990, with 11 straight days of declines and index dips in 15 of the last 16 trading sessions, the Financial Times reports. The Borsa Istanbul fell 8.2% after the ruling party failed to retain its majority in Turkey’s weekend election. Emerging market investors have been nervous lately anyway with the U.S. dollar on the rise, tensions with Greek debt high, and Ukraine’s instability.
The MSCI EM index is down more than 8% since the end of April. The S&P 500 has declined only 1% during that same period.
The MSCI EM index may get a shakeup on Wednesday when MSCI announce whether or not it will be adding Chinese A-shares to the index.
Photo: Dennis Jarvia via Flickr.