Jeff J Mitchell/Getty Images Stocks in China were sold heavily in Wednesday trade and closed just off their 2018 lows. Emerging markets worldwide are under pressure as questions persist about Turkey’s future and the risk it could fall into a full balance of payments crisis. "Traders are hunting," one fund manager told Business Insider this week after the plunge in the Turkish lira was followed by a sudden depreciation in the value of the South African rand. On Wednesday in Asia, it was Chinese benchmark stocks that were caught in the sell-off of emerging market assets around the world.See the rest of the story at Business InsiderNOW WATCH: An early bitcoin investor explains what most people get wrong about the cryptocurrencySee Also:Your opinion matters — Join BI Insiders program19 insider facts about shopping at Costco only employees knowI've saved enough at age 28 that I'll be a multimillionaire by retirement, and I used Warren Buffett's favorite investing strategy to do itSEE ALSO: These are the countries most at risk if Turkey's lira crash spirals into a debt crisis DON'T MISS: India's rupee hits an all-time low as the Turkish lira crisis spills over to other currencies NEXT UP: UBS: Turkey could be heading into a balance-of-payments crisis