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Russian Stocks Slump Most on Record, Erasing $150 Billion in Value

Russian equities fell the most on record on Thursday, erasing more than $150 billion in value, after President Vladimir Putin ordered an operation to “demilitarize” Ukraine and targets were attacked across the country. The benchmark MOEX Russia Index is down about 50% from its October record high and along with the dollar-denominated RTS is the worst-performing stock market globally this year. The news of the invasion fueled a hunt for safe havens, with investors fleeing equities around the world.