Russia’s stock market tumbled further on Tuesday, as investors scrambled to ditch Russian assets hours after Vladimir Putin sent troops into two separatist regions in Ukraine.
The Moex index fell more than 4 per cent, bringing its loss this week to more than 14 per cent, after Moscow ordered forces into the rebel-held Donetsk and Luhansk regions in Ukraine’s Donbas border, sparking international condemnation.
Moscow’s main stock benchmark has collapsed by a third since October, as investors responded to the escalating crisis and the growing chance of a Russian attack on Ukraine, which could trigger swingeing western sanctions in response.
US secretary of state Antony Blinken denounced Russia’s move as a “clear attack” on Ukraine’s sovereignty, while Ursula von der Leyen, president of the EU Commission, said Russia’s advance — billed as a “peacekeeping” exercise by Putin — constituted a “blatant violation of international law”.
“Markets are waking…