This crisis has resulted in a loss of investors, a fall in the value of the ruble, and a poor banking system. ... Then, from January to October of 1998, the stock market lost more than 90 percent of its value. ... In 1998, with the crash of the stock market, the Russians devalued the ruble and no longer made payments on its government debt (U.S., 1998). ...

• Word Count: 2646
• Approx Pages: 11
• Has Bibliography
• Grade Level: High School