Russian stock indices at the beginning of the new trading week were among the leaders in the fall, having updated multi-month lows. According to Kommersant, the Moscow Exchange Index lost almost 3.8% by the end of the day. This was the strongest daily fall since April 2020.
The publication points out that the geopolitical tensions that persist around the Russian Federation are forcing Western investors to actively get rid of ruble assets. Also, an additional negative can be a sell-off on world markets amid tightening of the Fed’s monetary policy.
Thus, today’s trading on the Russian market was closed by the collapse of stock indicators.
The Moscow Exchange Index reached 3613.88 points during the day. This is at least May 20. At the close of trading, it stopped at 3618.31 points, having lost 3.77% over the day. This is the strongest daily drop since April 2020. Since its highs in mid-October, the index has lost almost 16%.
The RTS currency index lost almost 4% by the end of the day, having rolled back below the 1550 point mark. This is at least seven months.
But on world markets, the decline was less significant. For example, the leading European indices fell by only 0.6–0.8%, while the leading American indicators lost 0.9–1.3% by 20:00.
It is noted that geopolitics negatively affects the Russian market, in particular, the persistence of tension in relations between Russia and the West.
Source: Rosbalt
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