Global stocks slide and gold climbs as Ukraine crisis escalates

clock

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 the 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 ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Why the lead-up to the Budget may have been worse than the Budget itself

Why the lead-up to the Budget may have been worse than the Budget itself

What Rachel Reeves and Dr Evil have in common

Laith Khalaf
clock 13 November 2024 • 4 min read
Bank of England meets expectations with 25 basis point rate cut to 4.75%

Bank of England meets expectations with 25 basis point rate cut to 4.75%

'Continued progress' on disinflation

Valeria Martinez
clock 07 November 2024 • 2 min read
'Budget will be a reset for our economy' Reeves tells IMF colleagues

'Budget will be a reset for our economy' Reeves tells IMF colleagues

Autumn Budget on 30 October

Linus Uhlig
clock 24 October 2024 • 2 min read