Russian stocks plunge after Trump cuts Putin’s Ukraine peace deadline

The Moscow Times reported the information.

The Moscow Exchange Index, which reflects the performance of Russia’s largest companies, fell from 2,777.3 to 2,727.2 points, representing a loss of 1.8% in just over an hour—from 2:55 p.m. to 4:08 p.m. Moscow time. The drop in capitalization was estimated at approximately $1.4 billion.

By 4:31 p.m., a significant drop in share prices was recorded for:

Sberbank — minus 1.22%
Gazprom — minus 2.77%
Lukoil — minus 1.11%
Sovcomflot — minus 2.24%
Mechel — minus 2.98%
Novatek — minus 3.2%
Aeroflot — minus 4%

Amid the instability, the Russian ruble also suffered. The Chinese yuan rose to 11.27 rubles (+1.9%), and the U.S. dollar exchange rate on the international Forex market increased to 81.05 rubles (+2.1%).

• U.S. President Donald Trump stated that he is disappointed with Russian leader Vladimir Putin and intends to shorten the 50-day period he had given him to reach a settlement with Ukraine.