Wall Street
S&P Dow Jones removes Russian stocks from stock market indexes
A trader works on the New York Stock Exchange. Photo: Allie Joseph/NYSE/XinHua/dpa
© dpa-infocom GmbH
Putin’s war in Ukraine continues to cost his country: now the US financial services provider S&P Dow Jones is removing stocks linked to Russia from its indices.
Russia is becoming more and more isolated on the financial markets in view of its war against Ukraine and the sanctions it has imposed as a result.
On Friday, the US financial services provider S&P Dow Jones announced in New York that it would remove shares from Russia-based or listed companies from its indices.
The company, which belongs to the large financial group S&P Global, is responsible for the leading US indices Dow Jones and S&P 500, but also for a whole range of emerging market portfolios. S&P Dow Jones now wants to isolate Russia from this and only determine data for six existing indices that only include Russian stocks.
The measures should take effect next Wednesday. S&P Dow Jones cited the recent sanctions against Russia and restricted market access as the reason. The index operator Nasdaq and other financial data service providers such as MSCI and Bloomberg had previously announced that they would remove Russian stocks from their indices.