Russia shutters its stock market as the ruble crashes
CNN
Russia's currency crashed to a record low against the US dollar Monday as the country's financial system reeled from crushing sanctions imposed by Western countries in response to the invasion of Ukraine.
The ruble lost more than 30% of its value to trade at 109 to the dollar at 2.30 a.m. ET after earlier plummeting as much as 40%. The start of trading on the Russian stock market was delayed, and then canceled entirely, according to a statement from the country's central bank.
The latest barrage of sanctions came Saturday, when the United States, the European Union, the United Kingdom and Canada said they would expel some Russian banks from SWIFT, a global financial messaging service, and "paralyze" the assets of Russia's central bank.
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