The Russian stock market collapsed after news and rumors about a new phase of the war with Ukraine. In particular, the State Duma on Tuesday, September 20, adopted a number of wartime bills that toughen responsibility for violations during a wartime period or during "military operations"; also the concepts of “mobilization”, “martial law” and others got into the Criminal Code. These measures, coupled with the statements of the authorities of the "LDNR" regarding the holding of referendums on joining Russia, were perceived by the stock market as a new phase of the war.
The Moscow Exchange Index fell 10.5% at its peak, later recouping half of the fall and dropping by 16:00 Moscow time by 5.37% to 2,300 points for the first time since August 30. The drop leaders were the shares of Polymetal (-21.05%), Tinkoff (-15.27%), VK (ex-Mail.ru, -15.3%), Yandex (-8.7%) .
Also among the drop leaders are large oil and gas companies - Novatek (-8.4%), Gazprom (-5.8%), Rosneft (-5.28%) and others. It is noteworthy that the ruble reacted to the new collapse of the stock market, on the contrary, even strengthened, although during the previous emotional market movements, the currency followed the general movement.
At the opening of the trading session, 10 Chinese yuan traded at the level of 8.599 rubles, at 16 hours Moscow time - in the region of 8.559 rubles. The dollar at the beginning of trading was at the level of 60.3 rubles, and in the middle of the day - 60.16 rubles, the euro at the beginning of the day was traded for 60.4 rubles, and in the middle - 60.05 rubles.