Russia's Turmoil Sends Ripples Through Global Markets.

Government bonds rallied and stocks dropped as investors hedged the risk that economies would flag under central banks pushing their inflation-fighting zeal and rate-hiking campaigns too far. Anxiety has been rising in equity markets that central banks determined to extinguish inflation will keep pushing rates higher and risk breaking fragile economies. Meanwhile, markets have absorbed the biggest threat to President Vladimir Putin’s almost quarter-century grip on power.