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Russia Keeps Stock Market Closed in Longest Pause Since 1998

  • Moscow Exchange stock trading has been shut since weekend
  • Russian stocks listed in London slump this week on sanctions
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Ruble Plunges 30% as Sanctions Shock System
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Russia will keep local stock trading closed for a third day as its wealth fund prepares to deploy billions of dollars to buy the country’s battered stocks following the invasion of Ukraine.

The three-day shuttering of stock trading on the Moscow bourse is its longest closure for extraordinary circumstances since October 1998, according to the exchange. The halt came after the U.S. and Europe imposed harsher sanctions on Russia over the war in Ukraine, sending the country’s assets plunging.