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The collapse of Russia in 3 charts

Ben Berkowitz
Mikhail Klimentyev | RIA Novosti | Kremlin | Reuters

Russia's ruble plunged to an all-time low against the U.S. dollar on Tuesday, despite the Russian central bank's stunning move to hike interest rates to 17 percent in an effort to support the currency. The affect on global markets was immediate and dramatic, with traders pricing in the increasing possibility of a Russian default.

Read More Why Russia's monster rate hike spells trouble ahead