By JERUSALEM POST STAFF
Moscow's MICEX stock exchange, where most of Russia's trading takes place, announced it is shutting until Friday after opening with steep losses.
The MICEX index dropped more than 14 percent in the first half-hour of trading Wednesday.
The RTS exchange, whose index is widely considered the benchmark of Russia's markets, fell more than 11 percent in the first 30 minutes and suspended trading for one hour.
The exchanges suffered their worst-ever one-day losses Monday and ended Tuesday with minor losses, in a tepid response to President Dmitry Medvedev's announcement of new measures to improve liquidity in the banking system.
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