The portfolio manager said the hot money that flowed into emerging markets in search of higher yields and returns is now reversing direction as the Federal Reserve scales back its stimulus.
“Money is fleeing these countries as fast as it can,” Sizemore told FOX Business. “That’s how quickly things can change.”
Sizemore said another factor driving the weakness in emerging markets is concerns over current account deficits.
Separately, he also discussed the impact of Google’s (GOOG) decision to sell its Motorola handset business to Lenovo.
The full video is embedded below: