Emerging Markets Take Big Hit

Mortgage and Lending with The Federal Savings Bank/Lending in 50 states NMLS # 109616

After yesterday's steep losses based on China backward sliding productivity, equity markets in the less developed countries were the scenes of pandemonium today.  Money was yanked out of stocks and placed in safety of U.S. Treasuries and Mortgage backed securities.  The global sell-off affected markets here as well as the Dow plummeted 318 points to close under 16,000 for the first time this year.

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