Russian Stock Market Plunges amid Geopolitical Tensions

On January 24, the Russian stock market continued to plunge. As of today MOEX index has decreased by 4.6% to 3281.25 points while the RTS index dropped by 5.7% to 1322.14 points, according to the Lenta.ru website.

Among Russian companies that suffer the largest drop are Tinkoff (minus 7.79% to 4,452 rubles per share), Gazprom (minus 5.88% to 293.27 rubles per share) and Sber (minus 5.35% to 233.68 Rubles per share). The only shares still showing positive dynamics are the shares of Polyus, a Russian gold mining company (plus 0.32% to 12,350 rubles per share).

The situation on the stock market has worsened after tensions over Ukraine started escalating. The U.K. government has even started the evacuation of its Embassy employees from Kyiv. NATO has declared that it will beef up its presence in Eastern Europe. Spain and the Netherlands have confirmed that they will send their fighter jets to Bulgaria; France is going to deploy its troops in Romania.