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  Tuesday, April 7, 2020
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Russia's RTS stock index fell below the "psychologically important" level
Russia's RTS stock index fell below the "psychologically important" level of 1,000 points on Monday.

As of 12:41 p.m. Moscow time (08:41 GMT), the RTS index had fallen 11.69% on Friday's close to 945.80 points.

Problems in the banking sector saw stock plunge as Russian banks continued to experience liquidity problems and uncertainty persisted over merger and acquisition deals in the U.S. banking community. Oil, gas and metals stocks also drove the Russian market down.

Global investors remain skeptical of a $700 billion rescue plan approved by the U.S. House of Representatives on Friday. The bail-out package gives the U.S. administration the power to buy devalued mortgage-related assets held by struggling financial companies and banks.


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