Nasdaq, NYSE Temporarily Suspend Stock Trading of Russian Companies

Both the Nasdaq and the NYSE halted trading of several Russian companies listed on the US-based stock exchanges, in response to tough sanctions imposed by the West and the subsequent ambiguity surrounding regulations.

According to a statement posted on the NYSE website, the exchange temporarily suspending trading of Russian-based telecom firm Mobile TeleSystems PJSC, online classifieds company Cian PLC, as well as steel company Mechel PAO on Tuesday, citing “regulatory concern.” Similarly, the Nasdaq, too, followed suit, not allowing investors to trade a number of other Russian companies, including online retail giant Ozon Holdings, as well as search-engine website Yandex NV.

Meanwhile, OTC Markets Group, which provides markets with pricing information for over 10,000 over-the-counter securities, also warned of potential impacts stemming from the Russia-Ukraine conflict— particularly the effect it might have on Russian-American depository receipts. “OTC Markets Group is monitoring and working with Federal regulators and will act in accordance with their guidance and directives as information becomes available,” read a statement from the company, as cited by Reuters.

Information for this briefing was found via Reuters and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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