Russia Central Bank Bans Short Selling as Stocks Plunge

[mahatmakanejeeves]

Russia’s central bank has ordered brokers to stop allowing traders to place bets against Russian shares

Link to tweet

Russia Central Bank Bans Short Selling as Stocks Plunge
Russia’s central bank said Thursday that it ordered brokers to stop allowing traders to place bets against Russian shares, a practice known as short-selling.

[progree]

1. MOEX Russia Index (IMOEX.ME)

MOEX stands for Moscow (stock) Exchange - the biggest one per Wikipedia or somesuch
https://finance.yahoo.com/quote/IMOEX.ME

Closed yesterday at 3084
Opened at 2735
Within an hour fell to 1681 (down 45% from yesterday's close)
Rose to 2378 at 1230p (Moscow time)
Now 2136 at 219p -- so down 31% from yesterday's close

In late October it was 4218.

[mahatmakanejeeves]

4. Thank you. Good morning.

I posted mostly to give people a link to The Wall Street Journal.'s Twitter feed.

I'm continuing to throw money into my retirement fund.

No bitcoins, no Russian stocks, just S&P 500 Index-type stuff.

[progree]

5. Good morning. I've got more emerging market stuff than the experts recommend...

Russia being classified as an emerging market.

[mahatmakanejeeves]

7. Experts? Hah! What do they know?

That Washington Mutual stock of mine will come bouncing back any day now.

[progree]

8. Reminds me of the Washington Public Power Supply System (WPPSS),

known as "Whoops" - the largest municipal bond default in history

https://www.investopedia.com/ask/answers/09/wpps-municipal-bond-default-whoops.asp

The idea to use clean, cheap nuclear power became popular in the 1960s, and WPPSS, which would come to be better known as "Whoops," saw an opportunity to meet growing consumption demands in the Northwest. It planned a system of five nuclear power plants that would be financed by a public issue of bonds and repaid with sales from the plants. The bonds were issued, but the robust sales that WPPSS had anticipated never materialized.1

... The biggest problems were endemic cost overruns, sloppy management, and outright idiocy. An example of WPPSS's problems involved a pipe hanger, essentially a bracket to hold pipes in place, that was redesigned and rebuilt no less than 17 times, costing more with each revision. ...

[Scrivener7]

9. And that's just the beginning. And that is the pressure being put onto an economy

that is half the size of California's.

Putin is making a big mistake.

But in the meantime those poor people in Ukraine are paying.

My heart is breaking for them.

[mahatmakanejeeves]

2. Take an early look at the front page of The Wall Street Journal.

I'm sure there's one thread in LBN announcing the invasion, but I don't know which thread it is.

Take an early look at the front page of The Wall Street Journal http://wsj.com

Link to tweet

[Irish_Dem]

6. "Crisis Sets New Struggle for Global Supremacy"

Power is shifting globally.

The GOP has managed to weaken the US to the point where China and Russia will step up to the plate now.

[SheltieLover]

3. Wtf did he expect?