Russia suspends stock market trading

Most trading on Russia’s stock markets was suspended today after the massive selloffs on Wall Street and Asian markets, Russian news agencies reported.

Regulators ordered Moscow’s Micex not to open for regular trading at the usual time, and the opening of the RTS was also postponed until further notice, the state-run RIA-Novosti news agency said.

Both were up about 10% Thursday as investors regained some of the losses suffered early in the week.

But fears that steep declines in the US and Asia would spark similar selloffs in Russia apparently led regulators to suspend trading.

Russia’s once-booming stock market has racked up huge losses in recent months, with the RTS index dropping more than two-thirds since May.