Russia will keep local stock trading closed for a third day as its wealth fund prepares to deploy billions of dollars to buy the country’s battered stocks following the invasion of Ukraine. The three-day shuttering of stock trading on the Moscow bourse is its longest closure for extraordinary circumstances since October 1998, according to the exchange. The halt came after the U.S. and Europe imposed harsher sanctions on Russia over the war in Ukraine, sending the country’s assets plunging. Foreign-listed shares in Russian companies slumped this week, an indication of how local equities may react to sanctions on the country and its companies when trading eventually resumes. In an effort to buoy its markets, Russia announced it will deploy up to $10 billion from its sovereign wealth fund to buy up local stocks. “It’s really the end of the Russian financial market we are used to,” said Leonardo Pellandini, […]