Stock selloff may continue unless Fed steps in

LAST week, US stocks had their biggest fall since 2012 as an emerging markets bond plunge sent ripples around the world.

The selloff may continue this week unless the Federal Reserve steps in.

"It's about the Fed: Will they or won't they?" said Quincy Krosby, investment strategist at Prudential Financial. "The question is whether or not the FOMC (Federal Open Market Committee) decides to hold off on the taper due to tremors in currencies within emerging markets."