Financial Briefs

Breaking financial news from Wall Street to Main Street

Russian stocks fall, bank outlook dims

Posted by financialbriefs on September 23, 2008

Russian stocks were buffeted Tuesday by turbulence from a dismal U.S. trading session as the Standard & Poor’s ratings agency lowered the long-term outlook for several small-sized Russian banks, including a bank owned one of the country’s richest men.

The MICEX, where most trading takes place, dropped 3.1 percent to close at 1,071.2 points, while the dollar-denominated RTS shed 2.9 percent to fall to 1272.1 points.

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