Russian markets plummet amid Trump tariffs and oil slump
The Russian stock market experienced its most challenging week in over two years due to tariffs imposed by Donald Trump and declining oil prices. The value of companies listed on the Moscow stock exchange fell by 2 trillion rubles (23,6 billion dollars) over two days, reports "The Moscow Times."
The Russian stock market is facing difficult times, according to "The Moscow Times." This downturn results from global tariffs imposed by U.S. President Donald Trump and a drop in crude oil prices. The market capitalization of companies on the Moscow exchange decreased by 2 trillion rubles (23,6 billion dollars) in just two days.
The MOEX index, which tracks the 43 largest Russian companies, lost 8.05 percent over the week, marking its worst performance since September 2022, notes The Moscow Times.
On Friday, the stocks of major companies such as Sberbank, Gazprom, and Rosneft experienced significant declines. Experts from J.P. Morgan have raised the probability of a global recession to 60 percent.
Impact on oil
Trump's tariffs led to a drop in commodity prices, including Brent crude oil, which fell by 12 percent over two days.
Russian Urals oil is now priced below 60 dollars per barrel, potentially impacting the state budget and the value of the ruble.
Analysts suggest that progress in peace talks could improve the situation, but currently, there are no signs of compromise from Russia.
