Russia's Stock Market: Look Out Beloooooow!

Don't stand under Russia's stock market, or you'll get crushed on the way down, like a piano falling out of a high-rise window (see the daily chart above)! With the collapse of crude oil prices and the rush for the exits by global investors, Russia's stock market has plunged more than 53% in four months. Furthermore, Putin's animosity toward private property and private capital has created an environment in which investors are uncomfortable making capital investments. Tyranny and prosperity don't mix very well!

Russia's stock market, after plunging 17% in a single day, was shut down when it fell too far, too fast. A similar plunge in the Dow would amount to a plunge of nearly 1,900 points. I have never seen a drop in the Dow of more than 570 points in the time I've traded futures. That was in January over the Martin Luther King Holiday, and the Dow recovered and closed higher the next day. But the equivalent of 1,900 points? Now that's a big plunge!

Here is an article at the Financial Times with more details:
Russia Halts Trading After 17% Share Price Fall