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