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JPMorgan, BlackRock Warn Contagion Hitting Emerging Markets

  • Every emerging-market currency has fallen in past six months
  • Dollar strength ‘not a good story’ for EM, JPMorgan says
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Anastasia Amoroso, JPMorgan Private Bank global investment strategist, sees the EM rout getting worse.Markets: The Open." (Source: Bloomberg)
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First came the Argentine selloff. Then Turkey. And before long, assets from South Africa to Brazil and Indonesia were getting hit in a selling stampede across emerging markets.

It’s a phenomenon that has a cadre of investors and strategists from JPMorgan Chase & Co. to BlackRock Inc. reaching for a single word: contagion.