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Stock exchange rates in Moscow
Photo: Mikhail Tereshchenko / /ITAR-TASS / IMAGO
After Russia's attack on Ukraine, investors have withdrawn from the Russian stock market on a large scale.
The RTS index fell by almost half to 612 points on Thursday, but then recovered again.
Trading was initially suspended in the morning.
Investors are primarily looking at new sanctions by the West against Russia.
According to EU Commission President Ursula von der Leyen, the planned steps will stop Russian banks from accessing the European financial markets.
In addition, Russian assets in the EU are to be frozen and important sectors of the Russian economy are to be denied access to key technologies and markets.
Meanwhile, the Russian central bank wants to help the tumbling ruble.
After the national currency fell to a record low against the US dollar because of the attack on Ukraine in the morning, the central bank announced interventions.
For example, the list of collateral accepted against central bank money has been expanded.
Additional liquidity for the country's banks was also announced.
German bonds rise sharply
The German bond market reacted to the high levels of uncertainty with strong gains.
On Thursday morning, the trend-setting futures contract Euro Bund Future rose by around one percent to 167.64 points.
In turn, Europe's stock markets collapsed.
On Thursday morning, Russian President Vladimir Putin officially ordered the attack on eastern Ukraine.
US President Joe Biden, the Western allies and NATO sharply condemned Putin's actions and announced further sanctions.
Biden said Russia “deliberately” started a “war” against Ukraine.
hey/Reuters