S&P Dow Jones said it will drop Russia from its 'emerging market' designation given the 'deterioration' in its markets.
The index giant said it will remove Russian stocks listed or domiciled in Russia, including those trading via American depositary receipts, within its standard equity indices before the open of trading on March 9.
S&P Dow Jones said it will also drop Russia from its"emerging market" designation given the"deterioration" in its markets, instead classifying it as"standalone" — which means Russia companies as a whole would have to go through a new assessment at some point to be considered for one of the index company's three country classifications, which are developed, emerging and frontier.
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