Russian stocks endure a total wipeout in value on the London stock exchange, losing $570 billion in two weeks, with many Russian companies' stocks worth pennies. Entities such as Gazprom and Lukoil have lost almost all of their value. Sberbank, the largest bank in Russia, had a market cap of $102 billion six months ago but the value of outstanding shares is currently less than $190 million.
Russian stocks endure a total wipeout in value on the London stock exchange, losing some $570 billion in two weeks, with many Russian companies' stocks worth pennies. Entities such as Gazprom and Lukoil have lost almost all value; Sberbank, the largest bank in Russia, had a market cap of $102 billion half a year ago but now the value of outstanding shares is less than $190 million.
Russian stocks endure a total wipeout in value on the London stock exchange, losing $570 billion in two weeks, with many Russian companies' stocks worth pennies. Entities such as Gazprom and Lukoil have lost almost all oftheirvalue. Sberbank, the largest bank in Russia, had a market cap of $102 billion sixmonths ago but the value of outstanding shares iscurrently less than $190 million.
