Trump knocks $1 billion off Russian stock market with Putin insult

By CHARLIE SPIERING, SENIOR POLITICAL REPORTER, WASHINGTON, DC

President Donald Trump's criticism of Russian President Vladimir Putin sent shockwaves through the Russian economy on Monday.

Russia's stock market fell more than 2 percent after Trump appeared to lose patience with Putin, calling him 'crazy' and threatened new sanctions over Moscow's escalation of attacks on Ukraine.

The Moscow Exchange (MOEX) index dropped to 2,711 points by 5:30 p.m. local time, down from its opening level of 2,735, according to the Moscow Times.

The investment firm Finam said that Trump's remarks were responsible for spooking the markets.

Trump was considering new sanctions against Moscow after Putin's attacks on Ukraine, The Wall Street Journal reported, in response to Russia's apparent lack of interest in a peace deal to end the war.

'He's killing a lot of people,' Trump said to reporters about Putin. 'I don't know what's wrong with him. What the hell happened to him?'

European leaders are growing more impatient with Trump's attempt to bring peace between the two countries, convinced that Putin is just stringing the president along.

French President Emanuel Macron seized the opportunity to savage Putin on Monday after President Donald Trump expressed dissatisfaction with the Russian president.

Macron suggested that Putin had tricked Trump by engaging in diplomatic talks surrounding a peace deal, even after meeting with his envoy Steve Witkoff on four different occasions.

'President Trump realizes that when President Putin said on the phone he was ready for peace, or told his envoys he was ready for peace, he lied,' Macron said during a visit to Hanoi, Vietnam.

Macron indicated he wanted Trump to do more against Putin.

'We have seen once again in recent hours Donald Trump express his anger. A form of impatience. I simply hope now that this translates into action,' he said.

Putin launched three days of attacks in recent days launching hundreds of drones and several missiles across Ukraine.

On Monday, Russia sent at least 355 drones into Ukraine alone and launched nine missiles.

'What's happening in Ukraine is unacceptable and extremely serious. You can't say you're ready to talk and then bomb,' Macron said.

Russia said the attacks was a response to ongoing Ukrainian attacks against Russia.

'We have seen how the Ukrainians have been hitting our social infrastructure, peaceful infrastructure. This is a response strike. It's a strike against military facilities, military targets,' a Kremlin spokesperson said.

Trump expressed his frustration with Putin during a conversation with reporters after returning to Washington, DC on Sunday and in a post on social media.

'I've always had a very good relationship with Vladimir Putin of Russia, but something has happened to him. He has gone absolutely CRAZY!,' Trump wrote, complaining that Putin was 'needlessly killing a lot of people.'

'Missiles and drones are being shot into Cities in Ukraine, for no reason whatsoever,' Trump added and said Putin's war in Ukraine could lead to the 'downfall of Russia.'

Trump spoke personally with Putin last week about the proposal for peace, which the president hailed as an important step forward for peace.

But Putin's actions drew criticism from Trump.

The Kremlin responded to Trump's accusations by suggesting he was reacting emotionally.

'This is a very crucial moment, which is associated with an emotional overload for absolutely everyone and with emotional reactions,' Kremlin spokesman, Dmitri Peskov told reporters on Monday.