Sberbank Leads Stocks Lower on Ukraine: Russia Overnight - Bloomberg:
"OAO Sberbank (SBRCY), the state-run lender targeted by international sanctions, dropped to a record low as Russian stocks tumbled in U.S. trading on concern a flareup in the Ukraine conflict will trigger additional measures.
Volatility in the Bloomberg Russia-US Equity Index jumped to the highest level in three months as the gauge sank 3.4 percent. Sberbank retreated for a fifth day. The biggest exchange-traded fund tracking the country’s stocks fell to the lowest since July 2009.
Stocks plunged as officials in Kiev and separatist rebels accused each other of starting major offensives. Andrei Purgin, deputy premier of the self-proclaimed Donetsk People’s Republic, said government forces had broken a Sept. 5 truce. Ukraine said Moscow is sending troops into rebel-held areas. The outbreak of fighting stoked concern that the U.S. and its allies will toughen sanctions that already are projected to tip Russia’s $2 trillion economy into a recession next year."
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