Russia just entered BEAR Market 5/14/12:
Russia Stocks in Bear Market as RTS Tumbles 20% From Year High
By Ksenia Galouchko - May 14, 2012 11:39 AM ET
“Global factors will continue to pressure the Russian market,” Ilya Zharskiy, who manages $3.3 million at Astercom Asset Management in Moscow, said by phone. “We may see a large drop this week and the index may fall to 1,200 by the middle of July.”
A move by Chinese policymakers to spur growth failed to bolster global equities amid signs the country’s economic expansion is losing steam. Reserve ratios will fall 50 basis points, effective May 18, the People’s Bank of China said on its website on May 12. The level for the nation’s largest lenders will decline to 20 percent based on previous statements.
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Russia follows Greece & Spain into bear market.