GLOBAL MARKETS-Stocks fall, ruble dives as Russia sanctions hit world markets

The Dow Jones Industrial Average .DJI closed down 0.49% and the S&P 500 .SPX lost 0.25%. The Nasdaq Composite .IXIC rebounded, adding 0.41%, as investors bet the Federal Reserve will be less aggressive hiking interest rates. MSCI's all-country world equity index .MIWD00000PUS closed down 0.077%.

NEW YORK/LONDON: The Russian ruble hit record lows on Monday while world stocks slid and oil prices jumped after the West ramped up sanctions against Moscow over its invasion of Ukraine, including blocking Russian banks from the SWIFT global payments system.

Russia's central bank hiked its key interest rate to 20% from 9.5% and introduced some capital controls to bolster the ruble and fight inflation. Authorities ordered exporting companies to sell 80% of their foreign revenues as the ruble slid as much as 32% before recouping some losses. Read full story