Emerging markets are suffering their worst slump since 2015. The MSCI Emerging Markets Index entered a bear market in early September after dropping 20 percent from its early 2018 peak. A benchmark index of emerging currencies has dropped more than 8 percent from its high on April 3, while the Bloomberg Barclays Emerging Market dollar-bond index is on track for only its second annual loss since the global financial crisis. Alan Howard, had prepared for a financial crisis by cutting risk and buying investment contracts that would profit from market volatility.
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