Russia's currency is in crisis. A late-night interest-rate hike by Russia's central bank failed to stem the ongoing collapse of the ruble.
So what does this mean for everyone else?
This is kind of a complex question. But we can begin to answer that question by considering who is most exposed to Russia's economy.
"[C]ompanies domiciled in Austria, Finland, and Poland have some of the largest average revenue exposures to Russia at 7.4%, 6.2%, and 5.6%,"FactSet's Michael Amenta said in a September research note. "In addition, European countries with larger public markets, such as The Netherlands, United Kingdom, Gemany, and France, contain companies averaging several percentage points of revenue exposure as well (5.3%, 4.0%, 3.4%, and 3.2%, respectively)."
US companies have an average of just 1.4% of sales exposed to Russia.
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