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Why Yandex Stock Slumped Today

TheMotleyFool

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Shares of Yandex (NASDAQ: YNDX) were down on Monday amid a broad stock market sell-off. There was no company-specific news from the Russian internet company, but the stock was down 14% at 11:25 a.m. EDT today.

With the major U.S. stock indexes having shed more than 5% by late morning, many stocks were getting caught up in the selling. Another wrinkle for Yandex, being a Russian company: Russia's refusal over the weekend to cut oil production could severely hurt U.S. producers. Whether that development matters here is anyone's guess.

Image source: Getty Images.

Source Fool.com

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