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Investing Topics: Global economy

Profits and Perils from Emerging Market Meltdowns

By Roger S. Conrad on Sep. 9, 2018
Some 20 years ago, the US stock market and economy were poised on a knifeā€™s edge. The emerging market storm that started with the 1997 fiscal meltdown in Thailand had at last reached these shores. The S&P 500 had already tumbled by more than 15 percent from its summer highs, and would go on to drop another 10 percent before touching bottom on October 8. Only dramatic action by then Federal Reserve Chairman Alan Greenspan and other central bankers stemmed the tide that in the end actually landed a major country in bankruptcy, Russia.

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