Russian stocks crash and ruble plunges to record low

[Yo_Mama_Been_Loggin]

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

-snip-

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%.

https://www.msn.com/en-us/news/world/russian-stocks-crash-and-ruble-plunges-to-record-low/ar-AAUf8ej

[NoMoreRepugs]

1. Wonder if Pootie shorted his own country?

[lindysalsagal]

2. Get thee to the greatest page!

I hope this helps slow the attacks.

[no_hypocrisy]

3. Hit the oligarchs where it counts.

[ancianita]

4. And when Russia can no longer pay its mercenaries, they will decamp.

There will be nothing he can do to them, except threaten a reprise of some kind of red army vs white army enforcement, which would be the first sign of instability that can trigger another revolution.

[WinstonSmith4740]

5. Yeah...

Erik Prince will have to find a new financier.

[uponit7771]

6. +1