U.S. Sanctions Take a Toll on Russian Markets
MOSCOW—Russian markets convulsed in the wake of new U.S. sanctions, as the ruble tumbled and domestic and foreign investors dumped Russian stocks.
Shares in United Co. Rusal PLC, the giant Russian aluminum maker, lost half of their value on Monday, after the U.S. hit the company and its main owner, Oleg Deripaska, with sanctions on Friday. The damage spread across a broad range of Russian assets, leaving the country’s main MICEX stock index down more than 8% and the ruble off 4% against the U.S. dollar, amid uncertainty over…
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