Trading suspended on Moscow markets

Trading was suspended on Moscow’s stock exchanges today – a day after they suffered their biggest-ever one-day losses.

The opening of trading was delayed until at least 1pm (9am Irish time), two and a half hours after the usual opening.

The indexes of both the RTS and the MICEX exchanges dropped nearly 20% yesterday, the steepest declines yet for a market that was booming even amid growing signs of trouble in Western economies.

Since May, the RTS index – widely considered the Russian market’s benchmark - has plunged 64%.