Russian Equity ETF Dives, Then Leaps In Roller Coaster Day

The largest Russian equity ETF was down moderately in early-afternoon action Tuesday, after slumping by as much as 10% at the open, then jumping as much as 7% above Monday's close before erasing that gain. The Market Vectors Russia ETF shed 1.7% at last check. The U.S. oil benchmark and U.S. stocks also are trading up from their session lows. Colin Cieszynski, chief market strategist at CMC Markets, said there's been "a bit of a washout" and a "relief rally" after several big down days. Some sellers "got tired," and some bargain hunters stepped in, he told MarketWatch.