China has once again set the tone for our Monday market forecast.

Brazilians used to joke that their country was the country of the future – and always would be because a new crisis seemed to crop up every time the economy came close to fulfilling its potential.

Markets were in the dumps yesterday with more broken bones than a wrestling match at the retirement village.  On Wall Street, the thirty blue chip names comprising the Dow Jones Industrial Average fell 2.35%, or 200 points.

Emerging markets investors have always had famed investor Jim Rogers on their side. Now – after the bubbles of China, India, Latin America and more have popped – they can take comfort in the word of investor Mark Mobius, who said emerging markets are “bottoming” en route to a bull phase in 2009.

Stock market volatility continues to shock most market participants this fall with enormous swings occurring almost daily. Last Thursday, the Dow was down almost 300 points at its worst levels only to recover with a massive 552-point gain. That’s an incredible 850-point turnaround in the span of just four hours of trading.