NEW YORK (AP) — Down, down, down. That's the direction of stocks in the BRICS economies, which were investment darlings last year but now seem deadweights.
In stock market terms, it's been a disappointing year for the emerging-market powerhouses that make up the cute acronym: Brazil, Russia, India, China and South Africa. Almost all the major stock indexes are lower in the five countries. The market in the U.S., by contrast, is up 15 percent.
But BRICS, for a lot of reasons, are still a good buy to many investors, who think this year's declines are just a blip and not a long-term trend.
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