Unlike the S&P 500, the MSCI Emerging Markets index has yet to reclaim its 2007 peak. Emerging markets can fall harder than developed in risk-off bouts, but they can also outperform when the global economy is humming."Emerging markets had a nice run that started in early 2009 and lasted up until the summer of 2011. Then the market started worrying about a Greek default and the Eurozone credit crisis, which threw a curveball to emerging markets," Yorke said.
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