Media Blog

Russian Stock Trading Suspended

Poof:

Russia’s main stock exchange announced it was to halt trading until Friday after opening with steep losses on Wednesday.

The MICEX index dropped more than 14% in the first half-hour of trading on Wednesday morning.

The RTS exchange, whose index is widely considered the benchmark of Russia’s markets, fell more than 11% in the first 30 minutes and suspended trading for one hour.

The exchanges suffered their worst-ever one-day losses on Monday and ended on Tuesday with minor losses, in a tepid response to President Dmitry Medvedev’s announcement of new measures to improve liquidity in the banking system.

Recommended

The Latest