EIN News: Greece Downgraded As Emerging Markets Rocked by Volatility

WASHINGTON, June 12, 2013 /PRNewswire-USNewswire/ -- The turmoil that has driven down a key emerging market index fund shows no sign of abating. Actions by central banks, riots in Turkey and uncertainty about the financial consequences of Japan's new economic strategies are all making global investors anxious and contributing to the flight of capital toward safer harbors, according to financial experts.

The MSCI emerging market fund has lost nearly 10% of its value in just one month. Yesterday, in an unprecedented action, MSCI downgraded Greece to emerging market status, the first time that has happened to a developed economy.

South Africa has been hit particularly hard, its currency falling to a four-year low, triggering a plunge in that nation's stock prices. Volatility also has rocked stock markets in many Asian economies, including Indonesia, Thailand and Malaysia.

The turmoil has strengthened the U.S. dollar against emerging market currencies such as India's rupee, which fell to a record low this week, as did the Thai bhat, Mexican peso and Brazilian real.

EIN News, a leading media monitoring company, provides in-depth news about global investment via many news sections, including:

World Stock Exchanges News--http://investing.einnews.com/category/world-stock-exchanges

Equity Investments News Topics--http://investing.einnews.com/category/equities-invest

Emerging Markets Investments News--http://investing.einnews.com/news/emerging-market-invest

About EIN News (http://www.einnews.com/)
EIN News has developed one of the world's leading real time news indexing services. Its systems continuously scan the web, indexing news from thousands of worldwide sources. The data is then filtered according to specific needs, and the processes are supervised by a team of professional news editors.

The company's services include:

- EIN Presswire (http://www.einpresswire.com), a press release distribution service that reaches nearly 10 million people each year. Its archive contains over 200,000 press releases posted in the last 365 days.

- EIN World Conference Directory (http://events.einnews.com), a platform to list your business conference or other trade event online for free.

- Newsfeed Maker (www.newsfeedmaker.com), a syndication service that searches thousands of online sources and delivers results directly to the websites of its members. Users can manage up to 10 news feeds from one central location.

SOURCE EIN News

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