Destabilises Turkey

American-led forces have sharply intensified air strikes in the past two days against Islamic State fighters threatening Kurds on Syria's Turkish border after the jihadists' advance began to destabilise Turkey.

Emerging market policy makers have long complained that the Fed's massive money printing had triggered a wave of funds into their countries, inflating risk assets and raising the threat of destabilising flows once the Fed started to withdraw that stimulus.

American-led forces have sharply intensified air strikes in the past two days against Islamic State fighters threatening Kurds on Syria's Turkish border after the jihadists' advance began to destabilise Turkey.

Emerging market policy makers have long complained that the Fed's massive money printing had triggered a wave of funds into their countries, inflating risk assets and raising the threat of destabilising flows once the Fed started to withdraw that stimulus.