EM sell-off: The five worst performing equity markets in January

The latest round of selling in emerging market economies saw the MSCI EM index fall 6.6% in January. But which emerging markets suffered the worst of the sell-off?

The ongoing contagion in emerging markets has dragged down many indices - with developed as well as emerging markets all falling. Last week, following a sharp depreciation in emerging marekt currencies, central banks responded with a series of rate hikes to prevent further slides. Rather than offset currency falls, the hikes added to the panic currently embroiling emerging economies, and helped push markets down across the board. But nowhere suffered more than EMs last month. From fears about the impact of currency depreciation versus the US dollar, to concerns over external trade ...