Invading Ukraine Just Wiped $58 Billion Off The Value Of Russian Companies

That’s more than the cost of the Sochi Olympics.

Thomas Peter / Reuters / Bloomberg

The market value of Russia’s leading companies fell by over $58 billion (£35 billion) on Monday as investors pulled their money out of Moscow’s stock market due to the growing crisis in Ukraine.

This fall is more than the entire bill for hosting last month’s Sochi Winter Olympics, which came in around $50 billion (£30 billion).

The MICEX stock market index, which measures the value of 50 leading companies on the Moscow stock exchange, fell by 10% as investors pulled their money out.

All of the 50 constituent companies saw their share price fall, with their collective value dipping to just over 18.4 trillion roubles ($503 billion or £302 billion).

Check out more articles on BuzzFeed.com!

Jim Waterson is a politics editor for BuzzFeed News and is based in London.
 
  Your Reaction?
 

    Starting soon, you'll only be able to post a comment on BuzzFeed using a Facebook account or via our app. If you have questions or thoughts, email us here.

    Contributions

    Now Buzzing