Russian stock market collapses on news from the U.S., RTS posts biggest losses since February 2009
MOSCOW. Sept 22 (Interfax) - The Russian stock market posted major losses on Thursday following the U.S. Federal Reserve's announcement about major economic risks in the U.S., as well as Moody's decision to reduce the ratings for three major U.S. Banks. The MICEX and RTS indexes collapsed below 1,400 points. The RTS posted its biggest losses since February 2009.
Benchmark stocks on the RTS Index went down by 8.61% to 1,387.86 points (its lowest point since August 25, 2010). This was the index's biggest drop since February 17, 2009 when the RTS fell by 9.4%.
The MICEX Stock Exchange went down by 7.82% to 1,389.43 points, its lowest point since August 31, 2010.
Benchmark stocks on the indexes fell within 3%-11%. Many stocks hit their lowest points since autumn 2010.
The main decliners on the MICEX Stock Exchange were VTB , down 6.9%, Gazprom - 7.2%, Gazprom Neft - 4.6%, Lukoil - 9.8%, Novatek - 7.6%, MMC Norilsk Nickel - 5%, Rosneft - 7.6%, Rostelecom - 3%, Sberbank - 9.7%, Surgutneftegas - 6.6%, Tatneft - 8.4% and Federal Grid Company - 11.1%.