The head of the RDIF noted that sanctions against the Russian Federation are hitting the US economy and stock markets

Moscow. July 2nd INTERFAX.RU – Sanctions against Russia hit the US economy and stock markets, says the head of the Russian Direct Investment Fund (RDIF) Kirill Dmitriev.

„U.S. sanctions against Russia are devastating to the U.S. economy and have already led to the largest drop in the history of leading stock indices. The NASDAQ index showed the strongest drop in history in six months, the Dow Jones index recorded the biggest drop since 1962, and the S&P 500 1970,” said Dmitriev, quoted by the fund’s press service.

The head of the RDIF noted that falling markets have already devalued the value of US shares by $9 trillion, this is the worst first half of the year for US financial markets since 1970, when the sell-off of US shares ended the longest period of growth in the history of the US economy and marked the beginning of a recession.