Kremlin says market slump is emotion-led, will be correction

Bank workers in the Data Centre of the Sberbank Dealing Service in the Sberbank headquarters.
Anton Novoderezhkin | TASS via Getty Images

A slump in the prices of Russian assets after the United States imposed sanctions on a group of Russian tycoons is partly driven by emotion and there will be a correction, Kremlin spokesman Dmitry Peskov said on Tuesday.

Speaking on a regular conference call, Peskov said: "There have indeed been strong negative trends on the market. Partly that is to do with market trends, partly it's to do with the emotional fallout (from the sanctions). There will subsequently be a correction."