With emerging markets affected by growth in the U.S., fears that rising interest rates here will slow growth are pulling down markets among a number of developing countries, MarketWatch reports. Some experts believe rates could climb to 6.5% by the end of the year from their current 5%.

In the four weeks ended May 26, emerging markets mutual funds are down 8.4%. Likewise, funds focused on Latin America are down 8.3% in the period.

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