Russia Stocks Fall 20% in World’s First Bear Market Since March

June 22 (Bloomberg) -- Russia’s Micex Index tumbled more than 20 percent from its 2009 peak, becoming the world’s first benchmark equity index to enter a bear market since global stocks began rallying in March.

The index of ruble-denominated shares slid 5.9 percent to 957.56 as of 5:58 p.m. in Moscow, bringing its decline since June 1 to 20.6 percent, according to data from the Micex exchange’s Web site and Bloomberg. The 30-company gauge led a worldwide retreat in stocks this month on concern the global recession will persist for longer than investors anticipated. The MSCI All-Country World Index slid 5.6 percent from its 2009 high, paring its gain from a six-year low on March 9 to 39 percent. (more)