The ongoing selloff on Wall Street, spurred by fears over unstable emerging market currencies, has left traders wondering whether the steep declines could throw the Fed a curveball, UBS' Art Cashin said Friday.
"There's a little bit of a hint that people are wondering if this chaotic movement in emerging markets continues, the Fed may back off a little bit on the tapering," Cashin said on "Squawk on the Street." "Now, there's precedent for that."
While Thursday's steep stock market declines stemmed from worries over Chinese growth and credit, it was currency troubles in Argentina and Turkey that roiled markets on Friday, Cashin said.
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