FLRU - Russian ETFs continue to tumble as a 40-mile-long military convoy heads toward Kiev

Russian exchange traded funds continued to slide on Tuesday during premarket trading. Tensions are escalating, placing additional pressures on related ETFs and stocks as new satellite images show a large Russian military convoy extending nearly 40 miles in length headed straight towards Kyiv. The VanEck Vectors Russia ETF (BATS:RSX) finds itself down another 18.6% today after it closed -30.4% on Monday and is down 67% year-to-date. RSX has also experienced well above average daily trade volumes as investors dump shares of the fund among the growing tensions in Ukraine as Russian troops forge forward. On Monday, RSX traded over 50M shares which is five times its daily average of 10M shares. Dragging RSX down further are the fund's top two holdings, Gazprom (OTCPK:OGZPY) and Sberbank of Russia (OTCPK:SBRCY), weighted at 8.55% and 7.95%, respectively. Yesterday OGZPY ended -42% and SBRCY closed -71.8%. Aside from RSX, the Direxion Daily Russia Bull 2X Shares (NYSEARCA:RUSL) has cratered 49.6% this morning, losing nearly half

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Russian ETFs continue to tumble as a 40-mile-long military convoy heads toward Kiev