The Moscow stock exchange plunged nearly 12% in early trading this morning after multiple strikes on Ukrainian cities and a weekend explosion that partially destroyed the bridge connecting Crimea to Russia.
The benchmark rouble-denominated MOEX index dropped 11.9% to 1,780 points in early trade, briefly falling below the 1,800 mark for the first time since Moscow sent troops into Ukraine on February 24.
The dollar-denominated RTS index slumped by 13% to 909 points.
The sharp movements came as Russia was unleashing widespread missile attacks across Ukraine today, after the partial destruction of the bridge linking Russia and the Crimea peninsula the Kremlin annexed in 2014.
President Vladimir Putin on Sunday accused Ukraine of being behind the deadly explosion, which damaged the bridge, and reprisals were expected due to the symbolic importance of the infrastructure.
The rouble, which had been recovering for several months, was also trading lower this morning against the dollar and the euro.
One dollar was being traded for around 62.9 roubles this morning.
