Ruble Plunges as Trump-Zelensky Feud Threatens Ukraine Peace

The Russian ruble has taken a tumble as hopes for a peace deal between Russia and Ukraine have cooled following a heated exchange between U.S. President Donald Trump and Ukrainian President Volodymyr Zelensky. Meanwhile, stocks have recovered from a brief selloff.

The shouting match between Trump and Zelensky has raised concerns about the prospects for a peaceful resolution to the conflict in Eastern Ukraine. The two leaders have been at odds over a range of issues, including the status of Crimea and the role of NATO in the region. The tense exchange has dampened investor sentiment, leading to a selloff in stocks and a decline in the value of the Russian ruble.

The Russian ruble has been under pressure for some time, as investors have grown increasingly concerned about the impact of U.S. sanctions on the Russian economy. The sanctions, which were imposed in response to Russia's annexation of Crimea and its involvement in the conflict in Eastern Ukraine, have limited Russia's access to international capital markets and made it more difficult for Russian companies to do business with Western partners.

Despite the recent selloff, stocks have since recovered, as investors have taken a more optimistic view of the global economic outlook. The recovery in stocks has been driven by a range of factors, including strong corporate earnings, low interest rates, and signs of progress in the trade negotiations between the U.S. and China.

The situation in Ukraine remains fluid, and investors will be closely watching developments in the region for any signs of progress towards a peaceful resolution. In the meantime, the Russian ruble is likely to remain under pressure, as investors continue to grapple with the impact of U.S. sanctions on the Russian economy.