I think the emphasis on the Russian stock market is out of place. First, as mirhond noted, there is not a significant amount of stakeholders and there is potentially political opportunity for Putin and his administration. Secondly, how do the losses measure in value and time with the gains desired by Moscow? Market losses are transient; losing Ukraine politically is potentially permanent. I suspect that Washington is significantly more sensitive to market movement than Moscow and this may be affecting perceptions on how Moscow is expected to respond to the stock market.