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Friday, 23 August 02:02 (GMT -05:00)



Business And Politics News

Russian Stocks Go Down Along With American Indexes


Not so long ago, Russian stocks started going down in value. International experts say that this downtrend was mostly caused by external reasons. In particular, Russia's bigest stock index showed the biggest bearish move since April 2018. Back then, the Russian stock market used to be rather volatile because of the anti-Russian sanctions imposed on Russia by the United States.
 
The other day, the index traded around 2352 points, which is the lowest point since September 17th. It dropped by 2,6% over 24 hours but then recovered slightly. It's interesting to note that all of the economic sector of the Russian stock market turned out to be in the red zone, mostly the stocks from the energy and retail sales sectors. All in all, the overall market cap dropped by as much as 219 billion rubles. 
 
At the same time, other experts say that the Russian market is going down along with the U.S. stock market, which has been dragging down the entire global stock market. Another reason is that oil prices started retracing after a proloned rally. THe Russian economy has always been sensitive about oil prices. NordFX experts report that oil prices have been retracing due to the increased production of crude oil.
 
On Wednesday, NASDAQ 100, S&P 500 and Dow Jones started moving down, with the last one losing over 800 points over the trading day. Asian indexes CSI 300, Hang Seng, Topix, Nikkei 225 and Kospi followed.
 
 
The situations is affected by the fears of an even bigger trade war between the USA and China.
 
International experts say that the U.S. stock market downtrend was also caused by the fears that the trade war between the United States and China may escalate even further. They say that the fears coupled with the recent increase in the U.S. T-bond yields make international investors reduce their exposure to stocks in favor of other assets. Since the bulls are outnumbered, even a small sellout may trigger a downtrend. As for Donald Trump, he says that the downtrend was caused by the Fed's tough monetary policy.

 

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