Skip to comments.Markets plunge on Ukraine crisis; Russia’s central bank intervenes [Russian markets panic]
Posted on 03/03/2014 6:12:21 AM PST by Alter Kaker
Russian markets plunged Monday morning as investors reacted to the prospect of Western-led economic sanctions aimed at punishing president Vladimir Putin for Russian actions in Crimea.
The selloff prompted the Russian central bank to take aggressive action to try to stabilize the markets. As the ruble sank to new lows against the euro and the dollar, the bank raised interest rate by 150 basis points (1.5 percentage points), lifting it to 7 per cent.
(Excerpt) Read more at theglobeandmail.com ...
What a deal!! Sure beats putting your money in the Obama banks here.
Our markets are doing a good imitation.
Futures now down 129.
Wiff of panic in the air.
I hope everyone has their shorts on.
But at least you can be reasonably certain that you'll get your money out when you go into your local bank branch. Can you really say that about Russia? Anyway, with interest rates skyrocketing, Putin will finally do what he set out to do - destroy any part of the country's economy not directly related to oil and gas exports.
It would be a deal if you could earn 7% in American dollars, but instead they will pay you in Rubles which might be worth 1/2 what they currently are by next month.
"Chinese policy makers move to weaken the yuan may affect stock market valuations all around the world. "
-129?? Wiff of panic?? Sounds like a CNBSC soundbite. Call me when we’re down 3+% with a dropping bid. For the third day in a row.
Gazprom is down too. Ukraine controls 50% of the Russian gas flow into Europe. 50% of the Russian budget is financed by oil and gas exports. A pipeline shutdown would immediately cut Russian income by 25%. That might leave a mark!
That's the US. Russian markets are in a genuine across the board free fall.
Soros heavily supported turmoil in the Ukraine.....
Follow the money....
I’m sure he profited on shorts......after helping orchestrate the unrest....
Dow: look out below!
The down opens down .8%. Catches a bid and trades orderly down .6%.
It would also be meaningless if the market gave back 5% this week.
This market hasn’t been allowed to correct forever. It won’t be now, either.
I’m back in the U.S.S.R.
You don’t know how lucky you are boy
Back in the U.S.S.R.
Wait until European energy prices start exploding due to this crisis.
I am going to post a thread with that song in your honor.
All the work by Reagan being undone.
"But then again, Ronald Reagan was a real man."
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