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Alongside their stock market, the Russian Ruble is crashing. The Ruble is in the midst of having its worst down day vs. the US$ since they introduced the new FX basket in 2005 (see chart). As Tim Russert would have said, "this is BIG" folks. Pay attention to this global risk factor.

The Ruble was down -7.5% in August, so the follow through here in September, is as alarming as that tiger hunting photo of Putin that we flashed you in this past weekend's postings.

The US Dollar is winning; Global Currency markets are losing, big time.
KM