The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

A specialist on the floor of the New York Stock Exchange monitors international markets on a screen on Mon. Jan. 27, 2014.
A specialist on the floor of the New York Stock Exchange monitors international markets on a screen on Mon. Jan. 27, 2014.
(Richard Drew/AP)

Why this emerging market crisis isn’t like 1997

The emerging markets are looking more submerged with each passing day, as investors fret about anything carrying even a sniff of risk. This collective case of nerves, which has been building for a while, has forced harried monetary officials in Turkey and a handful of other countries to intervene to shore up battered currencies and driven emerging equities to their worst January performance since the height of the Great Recession in 2009.