As investors prepare for the Federal Reserve's slow exit from its extraordinary easing measures, it is emerging markets that are taking perhaps the biggest hit.
Measured against total economic output, capital inflow to developing economies has hit its lowest point in five years.
Analysts attribute the cash flow to anticipation that the Fed liquidity that helped drive a global stock market rally is beginning to dry up. They see money now flowing out of parts of Asia and going into cash, or getting teed up for a Europe rebound.
