, Columnist
Guess Who Is Jinxing Emerging Markets?
Emerging markets can’t catch a break. Photo: Yu Fangping/Future Publishing/Getty Images
For more than a decade, emerging markets have been a heartbreak for those who place their faith in developing countries. Since 2010, the benchmark MSCI Emerging Markets Index has not outperformed its US counterpart for two consecutive years.
Coming into 2026, global investors were getting their hopes up. The mechanisms that underpinned last year’s outsized returns, such as a weak dollar, benign global economic growth, and investors’ desire to diversify internationally, continued to be present.