Tuesday, August 19, 2008

Russia's Stock Market Beaten Up By Firm NATO Statement

Confront the Kremlin - excellent editorial by Oksana Chelysheva

Russia's stock market stumbled and fell by 5% today, in addition to the tumbling market over the past few weeks. U.S. stock markets haven't dropped that much in a single day for more than twenty years! Marketwatch.com has an excellent article on the subject today. Sorry, but I'm having difficulty grabbing the link. The terse NATO statement says that "business as usual" can not continue following the Russian invasion of Georgia. The chart says it all, however. Note the strong gap lower today!