The Market Vector Russia ETF, an exchanged-traded fund that is designed to track the performance of public companies from Russia, is tumbling.
The RSX was down nearly 6% in afternoon trade following reports that Malaysia Airlines passenger plane crashed in eastern Ukraine near the Russian border.
In addition to the RSX falling, U.S. markets are also lower while gold, considered a “safe haven” asset, is sharply higher.
An advisor to the Ukraine Interior Minister says the passenger plane was shot down.
It was an ugly day for Russian stocks following last night’s announcement of new sanctions by The White House, but this news has put those markets under additional pressure.
Here’s an intraday chart of the RSX.
More to come …