Moscow’s stock exchange said Thursday morning that it had to stop trading in all markets because Russian President Vladimir Putin said that Russia would start fighting Ukraine.
Many people have changed their expectations about how things will worsen between Russia and Ukraine this month.
At the end of Wednesday, the MOEX, Russia’s main stock index, was down about 30% from its October high.
This is because as soon as Ukraine’s two breakaway regions recognized their independence, Vladimir Putin called for Russian troops to be sent into them.
This week, the index had its worst day since the Russian government took Crimea.
Investors have also sold out of Russian and Ukrainian government debt, which has caused bond yields to rise and prices to fall.
The Moscow Exchange said it would later say when trading would start again.
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