Global stocks slide and gold climbs as Ukraine crisis escalates

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...