Overview

• The MOEX fell 4.05% on Oct. 8 to about 2,563 points, its steepest single-day drop in three years and the lowest level since December 2024.
• Selling intensified after Deputy Foreign Minister Sergei Ryabkov said momentum for agreements with Washington had been exhausted and described bilateral ties as collapsing.
• Large caps slumped on Oct. 8, including Gazprom (-4.1%), Sberbank (-4.9%), VTB (-4.7%), Rosneft (-2.5%), Severstal and Aeroflot (about -5%), with Mechel down 6.7%.
• The benchmark has been sliding for weeks, erasing more than 22% in market capitalization since February, as growth slows and the World Bank trims its 2025–27 forecasts to roughly 1% or less.
• On Oct. 9 the market recovered 2.96% to 2,638.37 points after the Bank of Russia signaled room to cut rates and presidential aide Yuri Ushakov said high-level U.S. contacts continue.