Russian stocks fell sharply Monday, joining a broad sell-off in emerging markets

Russian stocks fell sharply Monday, joining a broad sell-off in emerging markets, as tumbling oil prices and mounting worries about the global financial crisis pushed the RTS stock index down 7%.
In Moscow, the dollar-denominated RTS stock index fell 7.1% to end at 1,194 points. The ruble-denominated Micex stock index dropped 5.5% to finish at 1,019 points.
After the close of trading in Moscow, the U.S. House of Representatives rejected the $700 billion bailout plan for the financial sector, sending U.S. equities into a free fall.