Polish Stocks Lead Selloff as Proxy for Escalating Russian Risks
Vladimir Putin signed an updated nuclear arms doctrine that allows Russia to expand its use of atomic weapons.
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Polish stocks and the zloty currency dropped as investors used the Eastern European country’s assets as a proxy for escalating risk in the region as Russia widened its scope for using nuclear weapons.
Warsaw’s WIG20 index plunged as much as 3.5%, the biggest drop among key global equity indexes on Tuesday and its largest one-day drop since a global selloff on Aug. 5. The zloty traded 0.5% weaker against the euro, the worst performance among more than 20 emerging-market currencies.