(FT) Russian state-owned Sberbank fell more than 46% on Thursday as Moscow attacked Ukraine, while leading economies threatened sanctions against the country.
The Moscow’s stock exchange’s main index crashed more than 45%, while the rouble fell to a record low of Rbs 89.99 against the dollar.
Global equities also followed, with the Hong Kong’s Hang Seng index edging lower by at least 3%, while European stocks trended down.
The attack, on Thursday, saw Russia missile strikes reach several airfields in Ukraine, including its Kyiv airport Boryspil.
The dampened sentiment in global markets comes even as western nations, including US president Joe Biden condemned the attack, saying he would meet G7 leaders to seek further sanctions against Russia.
Nato secretary-general Jens Stoltenberg termed the attack as reckless and called for an emergency meeting of the alliance.
The attack now threatens to cause potential spiraling of crude oil prices, with Brent reaching $103 a barrel, the first time it has surpassed $100 since 2014.
SBER: MCX is down -46.12%.