- cross-posted to:
- world@quokk.au
- cross-posted to:
- world@quokk.au
Summary
Russia’s stock market lost $23.7 billion in two days after Trump’s new global tariffs and a steep oil price drop, marking its worst week since 2022.
The MOEX Russia Index fell 8.05%, with major firms like Sberbank, Gazprom, and Rosneft plunging. Brent crude dropped 12%, and copper fell 11%, stoking global recession fears.
Russia, heavily reliant on commodity exports, faces budget strain and potential ruble devaluation.
Peace talks over Ukraine remain stalled as the U.S. signals impatience, and NATO sees no shift in Russia’s war objectives.
Turns out when lunatics seize control of the insane asylum, except the asylum is the world’s wealthiest economy, it ultimately impacts every economy on earth.