Russian Markets Crash Amidst Oil Plunge and Trump Tariffs
President Trump’s new tariffs and a subsequent drop in global oil prices triggered Russia’s worst stock market week in over two years, with the MOEX Russia Index falling 8.05%. The Moscow Exchange lost $23.7 billion in market capitalization over two days, impacting major companies like Sberbank, Gazprom, and Rosneft. This downturn follows a global market decline, fueled by China’s retaliatory tariffs and analysts’ increased prediction of a global recession. Russia’s heavy reliance on commodity exports makes it particularly vulnerable to these global economic shifts.
John Q. Hosedrinker