Russia ETF sheds 25% of value; on track for 13-year low
The VanEck Russia ETF RSX, +1.36% plunged 24.7% in premarket trading, putting them on track to open at the lowest price seen during regular-session hours since March 2009, at the depths of the financial crisis, after the Central Bank of Russia said the Russian stock market will be closed Monday as tightening sanctions in the wake of Russia's invasion of Ukraine has led to extreme volatility in Russian financial markets. Among the U.S.
tumbled 21.3%, internet services company Veon Ltd. shed 15.8% and ecommerce portal Ozon Holdings PLC OZON, -8.16% dropped 19.0%. The U.K.-listed shares of Rosneft Oil Co. plummeted 40.4%, after U.K. oil giant BP PLC BP, -6.33% BP, +5.35% said over the weekend it is selling off its 19.75% stake in the state-controlled Russian oil and gas company. The Russia ETF selloff comes as crude oil futures CL00, +4.51% jumped 4.5% and futures ES00, -1.02% for the S&P 500 SPX, +2.24% fall 1.1%.
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