Russian equities trading in New York fell for a third day, the longest slide in a month, as clashes in eastern Ukraine added to speculation that the U.S. and Europe will step up economic sanctions against the Kremlin.
The U.S. readiness to impose new economic sanctions on Russia over Ukraine is offset by the European Union’s reluctance to introduce stronger measures that could threaten its already fragile economic recovery.
Bank Rossii poured dollars into the currency market, with traders estimating sales of about $10 billion, and raised interest rates after the threat of Western sanctions against Russia sent the ruble to a record low.
The Standard & Poor’s 500 Index’s first back-to-back gain since April produced a buy signal in a trend measure, suggesting the biggest retreat since the bull market began may be over, according to Auerbach Grayson & Co.
Banks sold the most U.S. structured notes tied to Japanese stocks for any January since at least 2010 after unprecedented central bank stimulus contributed to soaring indexes and the yen’s slide against the dollar.
NQ Mobile Inc., the Chinese mobile- services provider that sank 62 percent in the three days after Muddy Waters LLC said it inflated sales, plunged in New York as Piper Jaffray Cos. suspended its rating on the stock.