The Russian stock market on the 21st was the first sharp drop in eight years. President Putin said he would approve the two regions of eastern Ukraine that are effectively controlled by pro-Russian separatists as independent states or make a decision on the same day.
The MOEX index, an indicator of Russian stocks, ended at 11% lower, recording the rate of decline since March 2014 when Russia annexed the Crimean crisis. During trading hours, it temporarily fell by 14%, the sharpest drop since November 2008.
Russian stocks and rubles have the worst performance in the world. The Russian Ministry of Finance has canceled the auction of government bonds scheduled for the 22nd, citing “increased volatility in financial markets” as a reason. The ruble-denominated 10-year bond yield has skyrocketed by about 80 basis points (bp, 1bp = 0.01%).
news-rsf-original-reference paywall">Original title:
Russian Stocks Tumble Most Since Crimea Annexation in 2014、Russian Finance Ministry Won’t Hold OFZ Auction on Feb. 22（抜粋）