Russian stock market sinks 17%

Russian stock market sank 17 per cent in Monday’s trade as President Vladimir Putin said his country was mulling recognising the independence of east Ukraine’s two separatist republics, further escalating the Ukraine crisis. Europe markets were all in the red.

Tracking the development, the RTS index that tracks 50 top Russian stocks in dollar terms on the Moscow Stock Exchange, nosedived about 230 points or 16.67 per cent to 1,160.24.

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File this under cost.

Still waiting for that long list of benefits.