Russian stocks tumble as oil chief arrested

RUSSIAN stocks tumbled in their biggest decline in over four years amid concern the arrest on Saturday of Mikhail Khodorkovsky, chief executive of AO Yukos Oil Co and the country’s richest man, may scare off investors.

Shares of Yukos, the nation’s largest oil producer, plunged.

“It’s awful for the country’s image,” said Ian Hague, who manages $415 million, including $350 million of Russian assets at Firebird LLP in New York.