Russia'S Stock Market Plunged 7.84%&Nbsp, The Largest Single Day Decline In More Than Two Years.
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Russia's stock market ended its biggest single day decline in more than two years on the 8 day when it lowered the US sovereign credit rating, the European debt crisis is worsening, the global economic outlook is bleak and the international oil prices are plunging.
The Russian trading system index opened more than 3% on the day, and fell sharply again after a brief rally, closing at 1657.77 points, down 7.84% from the previous trading day, the largest single day decline since February 17, 2009. The interbank exchange rate index in Moscow ended 5.5% lower at 1499.79 points, the first time it has fallen below 1500 points since October 2010.
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Against the backdrop of heightened panic, investors began selling stocks. Most of the two major stock exchanges in the Russian trading system and the Moscow interbank exchange market fell by 2. 4% to 10. 6%.
Energy stocks in the various interbank exchange stocks in Moscow
Lead a fall
In the broader market, Russia's unified power company shares fell 10.6%, Gazprom's share price fell 6.6%, Russia's oil shares fell 5.4%, and Oil and Natural Gas Corp's share price fell 4.4%.
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