Index giant S&P Dow Jones Indices said Friday it is removing all stocks listed and/or domiciled in Russia from its benchmarks in light of the country’s invasion of Ukraine, further isolating the nation from the global economy.
The removal, effective prior to the open next Wednesday, also affects Russian American depositary receipts (ADRs), S&P Dow Jones Indices said.
The firm, which is the keeper of the Dow Jones Industrial average and the S&P 500, also said it will declassify Russia as an emerging market and categorize it as a standalone group.
The move came as Russian forces attacked Europe’s largest nuclear power plant in Ukraine early Friday morning, causing a fire to break out at an adjacent training facility. The U.S. embassy in Kyiv called the attack a war crime.
