Russian internet technology company Yandex NV YNDX is plummeting Thursday amid Russia's invasion of Ukraine.
The significant decline in Russia's largest tech stock is part of a wider collapse of Russian stocks, as investors fear conflict escalation.
Thursday marks the fifth straight day of declines for Yandex shares as anticipation of an invasion contributed to the slide over the last week.
The fall in Yandex comes as the U.S. and other allied countries increase sanctions against Russia designed to negatively impact its economy and put pressure on Russian President Vladimir Putin.
Yandex operates internet search engines in Russia.
Related Link: How The Markets Are Reacting To Russia's Invasion Of Ukraine
YNDX Price Action: Yandex shares are down more than 50% over the last week.
The stock was down 36.9% at $21.63 at time of publication.
Photo: Web Summit from Flickr.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
