MOSCOW, February 28 (RIA Novosti) - The Russian Trading System (RTS) index fell Wednesday 1.29% to 1881.54 points.
As of 10:35 a.m. Moscow time [7:35 a.m. GMT], the MICEX index fell 3.41% to 1624.69 points, but later recovered, to 1631.56 points, while the RTS index declined further, to 1850.09 points (down 2.94%).
Most Russian blue chips also fell 2-3%.
Main European indexes fell about 3 percent and stock markets across Asia tumbled amid investor fears about possible slowdowns in the Chinese and U.S. economies.
Shares in Japan, Hong Kong, Singapore, Malaysia, India, Australia, Indonesia and the Philippines all plunged more than 3 percent in morning trading following overnight losses on Wall Street.
Investors were also unsettled by comments from former U.S. Federal Reserve Chairman Alan Greenspan, who said a recession in the U.S. was "possible" later this year.
