MOSCOW, TGO: Moscow’s exchange said Thursday morning local time that it suspended trading in all markets after Russian President Vladimir Putin announced a military operation against Ukraine.
Russian markets have begun to sell off this month as investors have recalibrated their expectations of escalation between Russia and Ukraine. The MOEX, Russia’s benchmark stock index, was down almost 30% from its October peak as of Wednesday. Earlier this week, the index suffered its worst day since the annexation of Crimea in the lead-up to Mr. Putin’s ordering Russian troops into two breakaway regions of Ukraine after recognizing their independence.
Investors have also sold out of Russian and Ukrainian government debt, pushing up bond yields and driving prices lower.
The Moscow Exchange said it would later announce when trading would resume.