Russian ruble rout
The decline of oil-dependent Russia’s ruble against the soaring dollar also will be a big story for investors to watch. The dollar recorded a 10.5% weekly gain against the Russian currency for the week ending Friday, it’s largest in six weeks:
International sanctions and the meltdown in oil factors prominently in Russia’s pain, which has some market observers worried that the Russian economy could face a repeat of its 1998 debt default.
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