Related: How Asian Markets are Responding to Trade Disputes

Emerging markets, one of the best plays of 2017, are now one of the most hated investment locals this year as a strengthening U.S. dollar drags on foreign returns and ongoing trade spate between the U.S. and China adds to volatility.

More recently, fanning the flames of trade war fears, President Donald Trump threatened tariffs on billion of dollars more in Chinese products. Meanwhile, the U.S. dollar Index has strengthened since the start of April – emerging markets have exhibited an inverse correlation to the USD since many borrow in USD-denominated debt and have a higher cost of paying back the loans.

For more information on the developing economies, visit our emerging markets category.