Boris Yeltsin is resting easy after his recent heart bypass surgery. But what if his rest verged on eternal, and Russia veered toward a political coup? Investors with all their money stashed in U.S. stocks wouldn't have to worry much. The echo of political turmoil in distant markets might be barely audible when Wall Street is roaring like Niagara Falls. But for those invested overseas--through mutual funds or directly, in stocks--the noise would be more like a foghorn in their bedroom. The clamor of social, political and economic uncertainty just might send prices cascading lower.
The critical question for investors then:...
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