Global stocks slide and gold climbs as Ukraine crisis escalates

clock

Russian shares dropped to a five-year low yesterday, weighing on global markets, while the gold price jumped as the Ukraine crisis intensified.

Russia's Micex index shed 11% on Monday while the ruble plunged to a record low against the dollar and the euro after President Putin sent troops into the Crimea peninsula, which is part of Ukraine. There has been severe unrest in Ukraine in recent weeks, culminating in anti-government protests in Kiev which led to President Viktor Yanukovych being ousted from office. The Russian military's move into Ukraine panicked markets, as fears grew the conflict could spiral.  Russia's central bank hiked interest rates from 5.5% to 7% in a bid to halt the ruble's downward slide and prevent infl...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Global

21st Federal Reserve vice-chair Richard Clarida on Trump, the US election and the 2% inflation target

21st Federal Reserve vice-chair Richard Clarida on Trump, the US election and the 2% inflation target

Q&A with Pimco's global economic adviser

Linus Uhlig
clock 05 November 2024 • 5 min read
AJ Bell's James Flintoft: Negativity on China has become excessive

AJ Bell's James Flintoft: Negativity on China has become excessive

Increase in appetite for Chinese equities

James Flintoft
clock 22 October 2024 • 3 min read
World's largest investment managers back in the black as AUM reaches $128trn

World's largest investment managers back in the black as AUM reaches $128trn

Thinking Ahead Institute research

Linus Uhlig
clock 21 October 2024 • 2 min read
Trustpilot