Russian stocks tumbled more over 4% on Monday to hit their lowest level in more than three years, extending a 15-week decline after the Central Bank’s modest interest rate cut last week, which signaled that high borrowing costs will likely persist longer than investors expected.

Russian stocks tumbled more over 4% on Monday to hit their lowest level in more than three years, extending a 15-week decline after the Central Bank’s modest interest rate cut…

By 5:03 PM Moscow time, the MOEX index was at 2,314.32 points

On Monday, June 22, the MOEX index fell by 4.65%, which was the largest one-day decline since the end of September 2022, when Vladimir Putin announced "partial mobilization." —…