NEW YORK, Aug 14 (Reuters) - As Turkey's financial markets spiral down, threatening the country's economy, investors are gauging whether emerging markets as an asset class are in danger of falling out of grace. The following selection of data points indicate there is relative weakness in Argentina and South Africa, while Asia and Mexico show strength.

A plunge in the Turkish lira has set off a wave of selling across emerging market assets, reviving fears of contagion that has been the sector's Achilles heel for decades.

Stock prices fell significantly while government bond yields rose across emerging markets. The bout of selling has taken prices and spreads near their 15-year average, indicating further declines could turn out to be good buying opportunities.