Stock Exchange Considerations

A lot of money is tied up in various stock exchanges. Most of it is speculative and not tied to equivalent real world value. Any loss of confidence will cause these markets to collapse. What does the world look like without stock exchanges? What happens if the exchanges are simple shut down for some period of time. No one can buy or sell at any price. What happens if the stocks are "nationalized?" What if banks could not deal in markets? What if oligarch's stocks are confiscated and divided up with the rest of the owners of any particular stock?

A lot of money is tied up in bond markets. Much of it borrowed by governments. What happens with bond markets in this transition?