Emerging markets have been pummeled in recent weeks on the weakening outlook for growth and currencies, notably as China’s economy shows signs of slowing down. Additionally, developing markets are also bracing for the eventual Federal Reserve interest rate hike, which could cause greater outflows from the riskier emerging markets.
Russia “is beset by its first recession since 2009 as sanctions including financing restrictions and export bans and a 28 percent drop in crude prices from this year’s high squelched growth, which had already slowed to 0.6 percent in 2014,” reports Bloomberg.
Market Vectors Russia ETF