Exposure to Russia Has Wiped $100 Billion Off European Stocks

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As Ukrainians under attack by Russia again raised the bar for inspirational bravery and heroism this week, world markets continued a path of uncertainty. European markets have seen billions in losses and US fund managers are struggling to offload suddenly toxic Russian assets. Here's the latest.

The 22 companies listed on Europe's Stoxx 600 exchange that count on Russia for 5% or more of their sales have seen $100 billion wiped off their market value since February 18, the day the US government warned of an imminent attack on Ukraine, according to Bloomberg estimates. Big names including Renault and Wizz Air have lost over 20%. However, if and when the crisis ends, there's hope for a swift recovery: the Stoxx 600 averaged a 20% gain in the 12 months after past crises, according to Citigroup analysts who studied the 1991 Gulf War, the 2003 Iraq War, and the 2014 Crimean Crisis.

Source Fool.com