Moscow Stock Exchange Closed Through March 18
The Moscow Exchange had stated on Saturday that it will remain closed all of next week, through March 18th. The exchange formerly closed on February 25, which was the day after the Russian Federation had initiated their invasion in Ukraine. The U.S. had shortly thereafter enacted sanctions against the government, which sent the Ruble tumbling, while their whole market was entering a free-fall.
This abrupt hemorrhaging in the Russian Equities market created the infamous analyst appearance on live television who ushered in the official death of the market, announcing that he would take up a newfound career as Ded Moroz (Russian Santa Claus).
Part of me wishes that this type of content existed on mainstream financial media outlets like CNBC & Bloomberg (would fit perfectly in a Wall Skreet television broadcast, though). Instead, we just get Bill Ackman going on live TV, exclaiming how we are doomed, while simultaneously strapped to the teeth in short positions. Secure the bag by any means, I guess.
And while the original sanctions enacted by the U.S. strategically left their oil & gas sector untouched, Biden announced new bans on imports of Russian oil & energy imports. Putin has remained steadfast in his operation, however, showing no remorse for his Russian citizens as their entire market and currency base has effectively been obliterated. This man is quite literally unhinged and fearless.