Russia Market Jumps 20%; ETF Follows Suit
September 19th at 2:00pm by Tom Lydon
Russia’s financial markets closed up a massive 20% higher, sending the country’s related exchange traded fund (ETF) onto double-digit gains of its own.
The session was so volatile that trading was suspended twice as stocks rose higher, reports Catrina Stewart for the Associated Press.
The markets were rebounding off of losses this week after the U.S. government’s plan to implement emergency measures in what could be the largest bailout in history.
Banking and energy stocks were among the biggest gainers. Energy makes up 39.1% of the fund, while financials are 14.3%.
The fund is down 33.3% year-to-date.
