Russia Ruble Crisis 2014: Potential Economic Collapse, Panic Over Future Of Banking System Follows Currency Tumble

Panic washed over Russia Tuesday as the value of the ruble dropped as much as 19 percent in one day, with Russians reportedly flooding currency exchange centers and retailers as they tried to swap their cash for anything that might have more value. Russian stocks dropped amid concerns that business leaders would pull deposits from banks and as the cost of imports soared.