Sep
30
2008
Russian stock exchanges suspended
Posted by: Joshuah in Economics, tags: Russian stock exchangeSource: CNN
Russian stock exchanges suspended trading for several hours Tuesday after shares plummeted soon after markets opened.
Both exchanges — the main RTS index and the MICEX currency exchange — reopened later in the day, the indices said.
Financial regulators ordered the suspension after the RTS plunged more than 8 percent in the first few minutes of trading. The Federal Financial Markets Service (FFMS) also suspended the MICEX in the first few minutes of trading in anticipation of big losses.
The turmoil in the Russian markets stems from concern over global growth following the recent instability in financial markets around the world.




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