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Google loses $ 1 billion because of rumors
Friday 9 Safar 1440 H – 19 October 2018
Russian technology company Yandex signs Moscow headquarters (Reuters)
Moscow: Middle East Online
MOSCOW (Reuters) – Shares of Russian tech company Yandex fell sharply Thursday on the Moscow and New York stock exchanges following a rumor regarding the sale of a stake in the Russian bank Spirbank .
The market value of the company dropped by about a billion dollars in minutes after the rumor that Spearbank would have bought 30% stake in Yandex, which the Russian bank denied.
The Yandex stock lost 3.25% on the Moscow Stock Exchange and 9% on the New York Mercantile Exchange, at the close of the previous session in Moscow with a decline of 8.28%. In New York, down 17.81%.
Yandex is a Russian search engine widely used by nearly 60% of Russian Internet users. In Russia and in a number of countries, it is an ideal alternative to Google Chrome.
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