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Pessimism Plagues D-Street

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August 28: Timothy Moe, Chief Asia-Pacific Equity Strategist at Goldman Sachs, points to serious economic stress in India due to the very weak currency and equity markets. The start of this decline can be traced back to when the US Fed announced an end to the era of loose positions in May, he says, adding that any economy with a large CAD will continue to face problems. In India, currency is the worst hit asset class, followed by equities, he adds.