Moscow - Russia's market authorities still had not opened the MICEX and RTS exchanges for trading Friday afternoon after US stocks tumbled to five-year lows and world markets sank on fears of a recession.
The Federal Financial Markets Service said Friday it suspended trade indefinitely on both indexes "in view of dramatic breakdowns on stock exchanges in Europe, Asia and the United States."
Moscow's bourses have been assailed not only by the global financial crisis, but undercut by their reliance on energy commodities, with the drop in oil prices and a war with Georgia two months ago that spooked risk-averse investors.