Markets mixed as Brazilian stocks plunge

Markets were mixed on Thursday.

The S&P 500 fell 0.2 percent, the STOXX Europe 600 fell 0.2 percent but the Nikkei 225 rose 0.9 percent.

The MSCI Emerging Market Index fell 0.3 percent. Brazil's Bovespa fell some 6.5 percent at its low point before recovering a bit while the real plummeted to its weakest in more than two years.

The yield on US 10-year Treasuries fell five basis points to 2.92 percent as investors fled to safer assets.

Chad Morganlander of Washington Crossing Advisors thinks that the selloff in emerging markets will only get worse.