- Investors are fretting about emerging markets again.
Turkey is the front-burner concern at the moment, but what really is getting people’s attention is the prospect that the financial problems there could spread to other fast-growing but risky countries.
- By Matt Phillips
- The New York Times
If history is any indication, that has the potential to quickly turn a local crisis into a global one.
Or maybe not.
Over the last week the value of the Turkish lira collapsed by more than 20 percent, shocking financial markets…