According to an article, published today in the Wall Street Journal "Major emerging markets in Asia plunged Monday on growing concerns among foreign investors that many of the region's largest economies look increasingly fragile as a period of global easy money appears to be coming to an end.The Indonesian rupiah fell to its lowest level in four years and the Indian rupee hit a fresh low adding to signs the emerging market selloff from this summer is deepening.
Global investors are betting the U.S. Federal Reserve will soon start winding down its massive bond-buying program, a view that got a boost from encouraging U.S. employment data last week.
Global investors are already thinking that the Fed will start to taper its bond buying program.The encouraging data of U.S. initial claims added to this view".
"That belief already has pushed up long-term interest rates and drawn billions of dollars in capital back to U.S. assets. On Monday, the yield on 10-year benchmark U.S. Treasury notes hit a fresh two-year high".
