Moscow stock exchange reopens, plunging almost 14 percent

Moscow’s Stock Exchange reopened on Thursday after plunging almost 14 percent, hours after President Vladimir Putin announced a military offensive on Ukraine.

The ruble-dominated Moex index was down 13.97 percent, according to the exchange’s website, while the dollar-dominated RTS was down 20.16 percent. The exchange announced a temporary suspension of trading earlier on Thursday.

The ruble meanwhile fell by nine percent to 90 against the US dollar, hitting an all-time low before bouncing back slightly.

Moscow’s Stock Exchange said it was “suspending” trading earlire Thursday.

The Saint Petersburg Stock Exchange also said it was stopping trading.

“The exchange announces a ban on submitting orders and concluding contracts in all trading modes,” it said in a statement, adding that it will take effect “from 0810 Moscow time,” (0530 GMT).