Markets Insider
By Mathew Fox
February 28, 2022
Russia’s central bank closed the country’s stock market on Monday in a bid to stem an expected sharp decline after crippling financial sanctions were implemented by Western countries over the weekend.
The country’s stock market experienced a devastating plunge of as much as 50% last week following Russia’s invasion of Ukraine. To further reduce a decline in its stock market once it reopens, the country’s central bank instructed brokers to not execute sell orders of Russian stocks from foreign investors, Reuters first reported.