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Russian Market Rout Wipes $200 Billion From Stocks; Bonds Dive

  • Central bank takes emergency steps as sanctions threat spirals
  • Stocks collapse is third-worst in history of markets
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Oil Soars Past $100, Stocks Tumble on Russian Assault
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Russian assets nosedived as military attacks across Ukraine prompted emergency central bank action and additional sanctions from the U.S., wiping out almost $200 billion in stock-market value and roughly a third of the sovereign debt’s value.

The ruble sank to a record low, the cost of insuring Russian debt against default soared to the highest since 2009, and stocks ended the main trading session down 33% -- their biggest-ever retreat. The Bank of Russia said it will intervene in the foreign exchange market for the first time in years and take measures to tame volatility.