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This study attempts to investigate the financial market contagion in a global perspective. We use a large sample of 26 countries representing different regions in the world and focus on the spillover effects of the 1998 Russian crisis. We use daily observations on three financial market indicators namely, the exchange rates, stock prices and interest rates. We construct a VAR to test the interlinkages among different market and different regions using the Granger causalfiy. Later, we perform impulse response analysis by introducing a shock in each of the Russian market and observe the impact and duration of this shock on other global markets. The evidence suggests that most of the exchange rates and stock prices within and across the regions are strongly linked and may have had provided a channel for contagion during the 1998 Russian crisis. However, the evidence for interest rate linkages is less supportive.