Source Pravda.Ru

Russian stock market drops amid negative news from US exchanges

After a relatively high opening, the situation on the Russian stock market changed rapidly. The majority of Russian securities started falling significantly following the continuing drop in US stock futures and a fall on European markets. Sales of oil stocks intensified on western exchanges, and, as a result, shares of LUKoil, YUKOS and Surgutneftegaz dropped more than 1.5 percent. Analysts forecasted that stock prices could drop significantly on the US market today after several days of rapid rise on the US stock market and the Russian market already started retreating prior to these changes. The RTS index went down 0.82 percent so far.