Having cited China and EM concerns, The Fed's chickening out from a rate-hike was 'supposed' to provide some support from the drastically derisking emerging markets of the world... it did not. In fact, MSCI Emerging Market FX index just crashed to its lowest since September 2009 with Brazil, South Africa, and Indonesia seeing the biggest plunges post-Fed.
New 6 year lows for EM FX... (lowest since 9/7/09)
[5]
But a look at the underlying names shows serious carnage...
[6]
And post-Fed, it's ugly in Brazil...
[7]
[8]
Charts: Bloomberg
