The Trading has begun again….
UPDATE.…The drop is down to around -1,600 at 10:00 DST NY
More to come….
The New York Stock Exchange has a series of “circuit breakers” in place to calm investors’ nerves when they’re panicked.
A circuit breaker was tripped Monday morning shortly after trading began.
The S&P 500 fell by more than 7%, halting trading for 15 minutes.
The next circuit breaker would be if the market falls by 13%. That would pause trading for another 15 minutes.
If the market plunged 20%, everyone would go home: Trading would stop for the day.
The New York Stock Exchange has halted stock trading for 15 minutes after the S&P 500 fell 7% on Monday morning.
Stocks plummeted on Monday as worries about the growing global coronavirus pandemic and an oil price race to the bottom weighed on global financial markets.
The selloff had begun in overnight futures trading, which was halted after futures contracts dropped nearly 5%.
The Dow opened 1,800 points, or 7%, lower.
The S&P 500 dropped 6.9%.
The Nasdaq Composite dropped 7.1%
All this comes after stocks managed to end the last turbulent week in the green. Despite three steep selloffs, the Dow also recorded its best point-gain on record last week….