MOSCOW, March 3 (UPI) -- Russian markets fell sharply Monday, dropping 9 percent in early trading, and the ruble reached all-time lows against the dollar and the euro.
Russian markets seem to be reacting adversely to a possible deployment of troops in Ukraine and financial sanctions, which are being considered by the U.S. and certain European nations. Russia's central bank unexpectedly raised its key lending rate on Monday to 7 percent from 5.5 percent. This increase was accompanied by other increases in other major lending rates.