Maybe the markets were expecting some consideration (concern) regarding emerging markets turmoil. But that was solemnly ignored.
The Fed’s step back from bond-buying has stoked worries about the stability of emerging markets in recent sessions. Investors say the U.S. central bank’s aggressive program, aimed at stimulating the U.S. economy, pushed investors to send cash to developing economies—taking on more risk in search of greater returns.
Worries about the stability of emerging markets flared again Wednesday after interest-rate increases from central banks in Turkey and South Africa didn’t stem a selloff in emerging-market currencies, stocks and debt.