Mobius Says Emerging Markets in ‘Better Shape’ Amid Turmoil

Templeton Asset Management’s Mark Mobius said emerging economies are in “better shape” than developed nations amid turmoil roiling global markets. Marc Faber, publisher of the Gloom, Boom & Doom report, expects the U.S. Standard & Poor’s 500 Index to rally about 40-to-50 points.

The S&P 500 Index slumped 60.27 points, or 4.8 percent yesterday, the biggest percentage drop since February 2009, as concern the global economy is weakening prompted a global rout. The MSCI World Index of global stocks entered a so-called correction yesterday, falling more than 10 percent from this year’s high, amid a seven-day sell-off that wiped out more than $4.4 trillion from market values worldwide.