Marc Faber sees 20-30 per cent correction in emerging markets

Dr Marc Faber says we could easily have a correction of 20 to 30 per cent over the next few months in emerging markets with interest rates tightening in the developed world and stock markets overbought.

For the UAE this looks like the end of the rally that started after Ramadan and ended with the failure of the Axiom IPO earlier this month.

However, Dr. Faber remains positive about the outlook for oil prices with oil prices gaining from geopolitical tensions in a downturn and inflationary pressure in a recovery scenario.