I thought Wall Street shut down the trading when the stock numbers dropped a certain amount. Wasn’t it 500 or something. I know they did in the past. Called it a cooling off period or something. They would shut it down when it reached a point and wouldn’t open until the next day for trading. Anyone know about this?
Stock Market Circuit breakers
September 15th, 2008 · No Comments
Thinking about the equity market, the retail sector is only today clueing in that something is “going on.” Following are the circuit-breakers if the non-professionals decide to get out:
In the event of a 1,200 point decline in the DJIA (10%)
Before 2 pm - 1 hour halt
2-2:30 pm - 30-min. halt
After 2:30 pm - no halt
In the event of a 2,400 point decline in the DJIA (20%)
Before 2 pm - 2-hour halt
1-2 pm - 1-hour halt
After 2 pm - Market CLOSES
In the event of a 3,600 point decline in the DJIA (30%)
Regardless of the time of day, the MARKET CLOSES for the day.
Tags: stock market
http://www.mrforex.org/2008/09/15/stock-market-circuit-breakers/