The ‘Fragile Five’, a term coined by Morgan Stanley, are five countries expected to be hit the hardest by the US Federal Reserve taper -  Brazil, India, Indonesia, South Africa and Turkey. Sarah Boumphrey, Head of Countries and Consumers research at Euromonitor, states that grouping all these economies together gives a false impression they will be similarly affected by the taper. Even though economic issues persist in the five, other emerging markets will be at risk as well although a long term emerging market crisis is unlikely.