Further isolation from global economy effective from before market opens on Wednesday
Highlights
- S&P Dow Jones announces it will remove all stocks listed or domiciled in Russia from its benchmark indices.
- The move is just the latest measure put in place to punish Russia economically for its invasion of Ukraine.
- Russia will be further isolated from the global economy by its declassification as an emerging market, effective from Wednesday.
- After that it will be categorised as a standalone group after the 2023 review.
- Wall Street fell at the end of a volatile week on Friday as the war in Ukraine overshadowed an acceleration in US jobs growth.
- The Biden administration is now weighing a ban on US imports of Russian crude oil, under pressure as Congress races toward passing such a restriction.