22 Sep 2011 15:31

MICEX stock index continues to plummet, down nearly 7%

MOSCOW. Sept 22 (Interfax) - The Russian stock market, which opened down 3% from yesterday's closing on the back of last night's discouraging news from the Federal Reserve, continues to fall.

The MICEX stock index was down 6.98% to 1402.04 by 3:12 p.m. Moscow time, its lowest since September 8, 2010; and the RTS index was down 7.3% to 1407.43, its lowest since late August 2010.

Benchmark stocks had plummeted 3.6-9.3%.

The MICEX saw drops for FGC (-9.3%), NOVATEK (-8.6%), VTB (-7.5%), Sberbank (-6.3%), Surgutneftegas (-7.9%) and Rosneft (-7.7%).