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Related: About this forumRussian markets, ruble plummet on Ukraine fears
http://hosted.ap.org/dynamic/stories/E/EU_RUSSIA_MARKETS?SITE=VANOV&SECTION=BUSINESS&TEMPLATE=DEFAULTRussian markets, ruble plummet on Ukraine fears
Mar 3, 5:04 AM EST
MOSCOW (AP) -- Russia's stock market dropped about 10 percent on Monday and its currency fell to its lowest point ever against the dollar and the euro as worries grew over the potential economic repercussions of the crisis in neighboring Ukraine.
Russia intervened over the weekend to take control of Crimea, a Ukrainian peninsula with strategic importance, and the new government in Kiev fears a wider invasion. The West responded by questioning Russia's membership in the Group of Eight leading industrialized democracies, and the U.S. threatened possible asset freezes and trade penalties.
The Moscow Exchange fell about 10 percent in the first hour of trading Monday, although it later recovered slightly.
The ruble, already down nearly 10 percent this year, fell below 50 to the euro for the first time. It traded at 36.89 rubles to the dollar, also a record, before stabilizing around 36.49.
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Russian markets, ruble plummet on Ukraine fears (Original Post)
unhappycamper
Mar 2014
OP
Russian rich can't be happy about this. Plus I read that government spent $10 billion today propping
pampango
Mar 2014
#1
Yep. Military 'adventures' do not come cheap. Maybe the world should avoid them.
pampango
Mar 2014
#3
pampango
(24,692 posts)1. Russian rich can't be happy about this. Plus I read that government spent $10 billion today propping
up the ruble. These costs may not go on for long, at least Putin must fervently hope they don't, but there are costs to this invasion beyond the direct military costs which are undoubtedly substantial .
unhappycamper
(60,364 posts)2. It will be interesting to see which house of cards folds first.
Our last two adventures added at least $4,000,000,000,000 to our national deficit.
pampango
(24,692 posts)3. Yep. Military 'adventures' do not come cheap. Maybe the world should avoid them.