Russian tech stocks have another rough day

|By:, SA News Editor

Tech stocks with strong Russian and/or Ukranian exposure fell sharply amid a broader equity selloff after Russia began new military exercises near the Ukranian border ahead of a March 16 Crimean referendum.

Notable decliners: YNDX -8.4%. QIWI -8.3%. EPAM -6.3%. LXFT -3.8%. VIP -2.8%.

Qiwi sold off yesterday in spite of posting a Q4 beat and strong 2014 guidance (20%-22% revenue growth vs. a 13.8% consensus). VimpelCom slipped after disclosing investigations by the SEC and Dutch authorities.