There may be trouble ahead: Russian Finance minister predicts a difficult 2016.

Russia’s finance minister Anton Siluanov predicts that 2016 will be a difficult year for his country’s recession-hit economy, which is already reeling from low oil prices. As the economy slides, Russia’s battered ruble reached a 2015 low on Wednesday, standing at 73.24 against the US dollar. The Russian government has forecast the country’s GDP would increase 0.7 percent next year, after falling 3.7 percent in 2015.

2)Wall Street closes down on oil and Apple weaknesses

Wall Street dropped on Wednesday on weak oil prices and tech stocks. Major indices closed down within 1 percent. The Dow Jones industrial average finished down by two-thirds of one percent; the S&P 500 lost almost three-quarters of one percent; with the Nasdaq Composite down by just over 0.8 percent. That’s because forecasts of a short winter in North America and Europe piled pressure on the oversupplied commodity. On single stocks, Apple was the heaviest drag on the S&P 500 and Nasdaq Composite, falling 1.3 percent due to soft iPhone sales.

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