Russia’s ruble and its main stock index nosedived following news the country’s military invaded Ukraine.
The dollar was up more than 10% against the Russian currency as the day began, sending the ruble to its lowest level ever against the dollar.
Moscow’s main equities index, the MOEX, fell as much as 45% after trading was temporarily suspended shortly after opening.
The ruble was trading at 89.8903 to the dollar at 8:40 a.m. in Moscow, with the greenback up 10.45% against it from the previous day. The ruble pared some of its losses later in the day, trading at 84.2855 to the dollar at 12:45 p.m. local time.
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