MBT - Yandex halted but set to slide another 21% after new sanctions

Stock in Russia-focused search giant Yandex (NASDAQ:YNDX) has been halted since before today's Nasdaq open, down 21.3% premarket in the wake of harsher economic sanctions on Russia stemming from conflict in Ukraine. The stock isn't trading in Russia as the Moscow Exchange remains closed. When it resumes on Nasdaq, though, it's set for a tumble that would further a precipitous fall in the wake of Russia's invasion of Ukraine. In just the past four trading sessions, Yandex has slid 58% in U.S. trading. That brings its six-month performance to a 73% fall in value. In other affected communications stocks, Moscow-based telecom Mobile TeleSystems (NYSE:MBT) similarly isn't trading; that stock has slipped 23% in five days. And Veon (NASDAQ:VEON) - with heavy operations in Russia and Ukraine - has tumbled 27.4% today with the sanctions as well as a Q4 earnings report where EBITDA missed expectations. Yandex crashed 40% on Thursday

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Yandex halted, but set to slide another 21% after new sanctions