Source Pravda.Ru

Russian Share Prices Plummet

The slump in US stock indices caused a downfall on the Russian stock market at the beginning of share trading today. The prices of the majority of Russian stocks plunged at opening, justifying the pessimistic forecasts of experts, who had said that any fall on the US market would immediately trigger a trend change on the Russian market. The previous share growth was of purely technical nature, because prices went up following positive changes in US stock indices. But as soon as they dropped, Russian stock fell too. In the opinion of experts, a lot of traders will prefer to fix their profits after a 10-day rally and, in doing so, they will cause another plunge.