Russian Stock Market Crashed 17% On Monday Due To The Expectation That Widespread War Is Only Days Away

Dmitry Serebryakov / TASS 

 Economic Times: Russian market cracks 17% as Ukraine tensions intensify; Europe jittery 

NEW DELHI: Russian stock market sank 17 per cent in Monday's trade as President Vladimir Putin said his country was mulling recognising the independence of east Ukraine's two separatist republics, further escalating the Ukraine crisis. Europe markets were all in the red.

Russia warned there were no firm plans for a summit between US President Joe Biden and Putin. To add fuel to the fire, reports emerged that Russian forces killed a group of five saboteurs, who breached the country's southwest border from Ukraine on Monday. 

Tracking the development, the RTS index that tracks 50 top Russian stocks in dollar terms on the Moscow Stock Exchange, nosedived about 230 points or 16.67 per cent to 1,160.24. 

There was fear that the West would cut off dollar access to Russian companies. The Russian ruble slumped to 78 rubles to the US dollar.  

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Update: Russian Markets Plunge Again as Tensions Flare in Eastern Ukraine (Moscow Times)  

WNU Editor: The Russian ruble has also collapsed .... Ruble Sinks Most in Two Years as Putin Recognizes Separatists (Bloomberg). Oil prices are surging .... Oil prices surge as Russia-Ukraine crisis escalates (CNBC). 

Bottom line. 

The people with a lot of money have made a decision on where this is all going.

I would not be surprised if we see a major shock to the markets when they open tomorrow morning.