These rapid changes have rattled global financial markets and spooked investors, reducing their appetite for risk – a cautious attitude that has been reflected in emerging markets. Investors have sat on the sidelines, and the MSCI index that tracks returns on emerging-market equities has stagnated.
来势迅猛的变化让全球金融市场措手不及，也吓坏了投资者，降低了他们的风险偏好——在新兴市场已经表现出相当谨慎的态度。投资者开始旁观，追踪新兴市场股市回报的MSCI指数陷入停滞。