Shares of Russian companies traded in US plummet as tensions rise over Ukraine crisis
NEW YORK, N.Y. – Shares of Russian companies traded in the U.S. are plummeting as the country’s military forces stream into Ukraine, raising the possibility of sanctions by Western governments.
BNY Mellon’s Russia ADR Index is down 25.6 per cent Monday morning. Stocks in the index include metals company Mechel, which is down 7 per cent to $1.77; Russia’s biggest mobile communications operator Mobile Telesystems, is down 10 per cent at $15.48. Another mobile phone company, VimpelCom, is off 7 per cent to $9.55.
Global markets were shaken by the developments in Ukraine and Crimea. Russia essentially took control of Crimea, a Ukrainian peninsula with strategic importance, and the new Ukrainian government in Kyiv fears a wider invasion.
In Moscow, the Russian stock market dropped about 10 per cent and the ruble hit new lows.
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