Around the World's Markets: Russia

PRICES fell sharply in Moscow, despite a temporary suspension, on renewed fears that the rouble might be devalued.

The main RTS index fell 9.1 per cent to close at 109.9. Trading was suspended in the afternoon after the market fell over 7.5 per cent, resuming after 45 minutes. Yields on nine-month bonds rose by up to 40 percentage points, touching 150 per cent. The government again tried to crack down on tax evasion, setting a target of 13.5bn roubles in receipts for August.