Russian markets tumble amid Trump tariffs and oil plunge
The Russian stock market experienced its worst week in over two years due to Donald Trump's tariffs and falling oil prices. Over two days, the value of companies on the Moscow stock exchange fell by 2 trillion roubles (more than £18 million), writes The Moscow Times.
The Moscow Times writes that the Russian stock market is experiencing tough times. This is due to global tariffs imposed by US President Donald Trump and a drop in crude oil prices. The market capitalisation of companies listed on the Moscow exchange decreased by 2 trillion roubles (over £18 million) in just two days.
The MOEX index, which tracks the 43 largest Russian companies, lost 8.05 per cent over the week, which is the 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 raised the probability of a global recession to 60 per cent.
Impact on oil
Trump's tariffs caused a drop in commodity prices, including Brent crude oil, which fell by 12 per cent over two days.
Russian Urals oil is now priced below 60 US dollars (approximately £47) per barrel, which could impact the state budget and the rouble's value.
Analysts indicate that progress in peace talks could improve the situation, but currently, Russia shows no signs of compromise.
