Emerging markets got big fast. So big, in fact, some analysts are comparing it to the tech-stock bubble of the late 1990s, which swelled and then burst, taking many investors' dreams with it, the Associated Press reports.

Until late May, emerging markets were a veritable money magnet. For example, the Morgan Stanley Capital International Emerging Markets Index, which tracks 25 countries, surged 35% in 2005, versus a 5% growth for the Standard & Poor's 500.

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