Following new sanctions imposed on Russia by the West, the Moscow stock market fell more than 2 percent in the first minutes of trading on Friday morning. Two of Moscow’s stock markets, Misces and RTS nose-dived 2.3% and 2.8%, respectively.
Despite the fact that widespread economic sanctions have yet to be imposed by the European Union and United States against Moscow, the Fitch agency degraded Russian economy prospective from ‘persistent’ to ‘negative’ due to tensions with the West.
Standard & Poors also lowered Russia economy ranking on Thursday citing the probable sanctions consequences.