Russia's stock markets took a pounding again on Thursday, and the official ruble exchange rate plunged to a two-year low as prices for Russia's main export, oil, fell over three percent, hit by worries about the economic future of the world's largest energy importer, the United States.
The dollar-denominated RTS stock exchange fell 6.66 percent to 1,417.52, while the ruble-denominated MICEX nosedived 5.87 percent to 1,418.71 at 15:46 Moscow time.
In Europe, France's CAC 40 index fell 4.93 percent to 2,790.94, Britain's FTSE 100 by 4.7 percent to 5,039.76, Frankfurt's DAX by 4.31 percent to 5,199.63.
The ruble for tomorrow settlement fell 50 kopecks against the dollar to 31.91 and 23 kopecks to the euro to 43.24.
The ruble has been falling against the euro and the dollar since the end of August. Deputy Economic Development Minister Andrei Klepach said the dip was caused by economic problems abroad and was temporary.
The price for November Light Sweet Crude (WTI) futures fell 3.50 percent to $82.92 in New York by 14:35 Moscow time. November Brent futures lost 2.28 percent to $107.84 per barrel. Russia's Urals blend usually trades below Brent.
The Federal Reserve rattled investors on Wednesday with the statement that the U.S. economy faced significant downside risks, and analysts worried that fresh measures to kick-start growth would be insufficient.
The Fed also launched a $400 billion operation to lower borrowing costs for U.S. businesses and consumers and boost the economy, selling its shorter-term securities to buy longer-term holdings.
