Overview
- The MOEX index closed down 1.89% at 2,588.56 on Oct. 10, with the RTS off 1.62% to 1,004.38, underscoring continued turbulence.
- The Oct. 9 rebound of 2.96% to 2,638.37 followed signals from the Bank of Russia about room to cut rates and a Kremlin aide’s assurance that top-level U.S. contacts continue.
- The slide was set up by a 4.05% plunge on Oct. 8 to roughly 2,563 points after Deputy Foreign Minister Sergei Ryabkov said relations with Washington were collapsing and post‑Alaska meeting momentum had been exhausted.
- Since February, the MOEX has dropped more than 22%, wiping out about 1.3 trillion rubles in value, with large state‑linked companies driving much of the decline.
- Analysts point to persistent geopolitical tensions, high interest rates and a slowing economy, with GDP growth nearly stalling this summer and the World Bank cutting near‑term forecasts.