Investors are fleeing emerging markets at the fastest clip in 18 months, fearing that the fate has turned for the world’s fastest-growing economies amid a slowdown in China’s economy, expectations the US Federal Reserve will soon raise interest rates and a global glut in commodities.

A stronger dollar and falling commodity prices have combined to put pressure on emerging countries which rely on natural resources. At the same time, commodity consumers such as China have been mired in slower growth, adding to commodities' pains. As a result, the benchmark MSCI Emerging Markets Index slumped to a four-year low recently.