Russian Stocks Tumble (WSJ)

In conversation with an economist from one of the leading investment banks - he thinks that the current correction in Global Stock markets (russia is down by 11% today) and commodity prices (copper is down by more than $1000 in past two days) was ignited by the massive falls in GCC equity markets.
Simialr to what happened in GCC markets. A spike in Volatility made investors re-assess risk and head for the exit.