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(106,224 posts)
Thu Feb 24, 2022, 01:09 PM Feb 2022

Russian stocks crash and ruble plunges to record low [View all]

Russian stocks crashed and the ruble hit a record low against the dollar on Thursday after Russian troops launched an attack on Ukraine.


The Moscow stock exchange had suspended trading earlier on Thursday but when dealing resumed, stocks went into free-fall.

The MOEX index plunged as much as 45% before recovering slightly to close down 33%, while the RTS index — which is denominated in dollars — ended the day with losses of 39%. The crash wiped about $70 billion off the value of Russia's biggest companies.

Russian banks and oil companies were among the hardest hit in volatile trading, with shares in Sberbank — Russia's largest lender — losing 43% of their value. Rosneft, in which BP owns a 19.75% stake, also shed 43%. BP shares dropped 4.6% in London. Gazprom, the giant gas company behind the Nord Stream 2 pipeline, was down 35%.


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Wonder if Pootie shorted his own country? NoMoreRepugs Feb 2022 #1
Get thee to the greatest page! lindysalsagal Feb 2022 #2
Hit the oligarchs where it counts. no_hypocrisy Feb 2022 #3
And when Russia can no longer pay its mercenaries, they will decamp. ancianita Feb 2022 #4
Yeah... WinstonSmith4740 Feb 2022 #5
+1 uponit7771 Feb 2022 #6
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