Stocks last traded in Moscow on Feb. 25. A day earlier the MOEX sank 33% after Russian President Vladimir Putin ordered the invasion of Ukraine.
Moscow's stock exchange is tiny, with a market capitalization of about US$773 billion at the end of last year, according to the World Federation of Exchanges. That is dwarfed by the New York Stock Exchange, where the total of all equities is roughly $28 trillion. The reopening of Russia's stock market has only minimal economic significance compared with the heavy weight of U.S.-led sanctions. A myriad of U.S., European and Japanese companies have pulled out of the country; there have been bank runs and panic buying of staples like sugar; and Russia's currency, the ruble, has been beaten down.
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