Russian Stock Markets Punge 8 Percent as Oil Prices Fall

THE ECONOMIST :

Beware of the Bear :

Russian stockmarkets fell further when the World Bank forecast Russia’s economy would shrink by 7.9% this year. Russian indices have tumbled this month from their previous highs for the year, as have stockmarkets in many emerging economies. (China’s stockmarkets bucked the trend by reaching their highest levels for a year.) Analysts have sounded a note of caution about American and European stockmarkets, too, warning that underlying economic fundamentals are not as strong as the rallies of the past three months would suggest.