Russian Stocks Plunge by Nearly 20 Per Cent, Worst Daily Loss Ever
October 6th, 2008Via: The Canadian Press:
Russia’s benchmark stock exchange suffered its biggest-ever one-day loss as shares went into free fall on the back of falling oil prices and deepening fears about the global economy despite the passage of a US$700 billion U.S. bank bailout.
Trading on MICEX – the country’s largest index – was shut down three times, closing down 18.6 per cent to 752 points. The benchmark RTS – where trading was halted twice – crashed to its lowest point since August 2005, falling by 19.1 per cent to 866.4 points. It is the most the RTS has fallen in one day.
