Russian Stocks Slide 3 Pct after S&P Downgrade

Russia's RTS index fell three percent at opening on Tuesday, a day after the Standard and Poor's ratings agency stripped the country of its investment-grade rating, cutting it to "junk" status.

The plunge in oil prices and Western sanctions over Moscow's role in the Ukraine crisis have pummelled the Russian economy in recent months, with the ruble collapsing in value.

Standard and Poor's became the first major international ratings agency to move Russia down into the speculative or "junk" territory after last downgrading Russia in April.