Russia’s Micex Index Sinks on Surprise U.S. GDP Slowdown
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Russian stocks erased gains as the economy in the U.S unexpectedly shrank in the fourth quarter, damping the outlook for global growth.
The Micex Index lost 0.4 percent to 1,543.43 by the close in Moscow, after advancing as much as 0.6 percent earlier. Of 50 stocks, 36 dropped and 14 gained. The dollar-denominated RTS Index declined 0.3 percent to 1,618.77. VTB Group, Russia’s second-biggest lender, retreated 3.3 percent.