Falling indices at US financial markets will affect Russian market, expert believes

The falling indices at the American financial markets will affect the Russian market, said Lev Snykov, an analyst at the Troika Dialog, to the Echo of Moscow radio station on Monday.

The slump in the American stocks will result in cutting positions of many investment companies on the Russian market, he believes. "The influence is very strong on oil companies, which are the most dangerous for investments in America".

The losses of these companies on the financial market have amounted to $100 billion, which cannot but affect the Russian oil companies, Snykov said.

Yet if the situation on the American market improves, the Russian market may see a rise by the end of the third quarter, he added.