Emerging market (EM) economies are going through a difficult time. From Turkey to Argentina and Brazil there are concerns due to rising US borrowing costs and a strengthening US dollar. Many EMs have high indebtedness denominated in US dollars. As US interest rates rise and the dollar gets stronger, government finances in many EMs are under strain.The iShares MSCI Emerging Markets ETF tracks a basket of EM equity markets. In total, 24 EM countries are represented in it, with 1,136 individual companies. It is most exposed to the Chinese equity market (with a 31% weighting), which has come under pressure.Other major markets represented in the ETF are South Korea (15%), Taiwan (12%) and India (9%). SA makes up a 6% weighting in the index. The remainder of the weighting (27%) is made up of various other areas worldwide.In January, EMs were in vogue and the iShares MSCI EM ETF was breaking out to a record high. But fast forward nine months and the ETF has fallen from $52 a share to the c...

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