The Russian stock market has taken it on the chin over the past six weeks or so. For example, the Russia RTX stock index (see the chart below) has fallen from an intra-day high of 2955 on May 10 to a close of 2105 as of today. That is a drop of 28.7%!
However, the index is still up substantially over the past 52 weeks. It closed at 1057 on June 16, 2005. That is a gain of 1048 points, or 99%. It amazes me that the stock market index for country as big as Russia can be this volatile.
I personally will continue to invest in Russia stocks via the Templeton Russia and Eastern European fund (symbol: TRF). However, I will continue to limit TRF to no more than about 3% of my long-term portfolio.