Russian stocks crash and ruble plunges to record low [View all]

Russian stocks crashed and the ruble hit a record low against the dollar on Thursday after Russian troops launched an attack on Ukraine.

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The Moscow stock exchange had suspended trading earlier on Thursday but when dealing resumed, stocks went into free-fall.

The MOEX index plunged as much as 45% before recovering slightly to close down 33%, while the RTS index — which is denominated in dollars — ended the day with losses of 39%. The crash wiped about $70 billion off the value of Russia's biggest companies.

Russian banks and oil companies were among the hardest hit in volatile trading, with shares in Sberbank — Russia's largest lender — losing 43% of their value. Rosneft, in which BP owns a 19.75% stake, also shed 43%. BP shares dropped 4.6% in London. Gazprom, the giant gas company behind the Nord Stream 2 pipeline, was down 35%.

https://www.msn.com/en-us/news/world/russian-stocks-crash-and-ruble-plunges-to-record-low/ar-AAUf8ej