Coronavirus-induced stock sell-offs triggered another market-wide trading halt today for the second time this week and only the third time in history
Coronavirus-induced stock sell-offs triggered another marketwide trading halt Thursday for the second time this week and only the third time in history.
Markets dropped within minutes of the opening bell and the S&P 500 hit a 7 percent decline at 9:34 a.m., triggering a 15-minute break required by the Securities and Exchange Commission.It was the first of three possible breaks in trading in a day, known as marketwide circuit breakers, which regulators have put in place to curb massive sell-offs when investors panic.
Premarket trading had already shown signs of strain after President Donald Trump's address Wednesday. After Trump announced a travel cutoff between the U.S. and Europe, stock futures plunged. By the time markets opened at 9:30, futures for all three major indices — the S&P 500, the Dow Jones Industrial Average, and the Nasdaq composite had dropped 5 percent, hitting the maximum allowable sell-off price before the market opens.
On Monday, a break occurred within minutes of the market opening as coronavirus-related market fears collided with upheaval in the oil markets related to changes in Saudi Arabia's oil production.Today's circuit breaker rules went into effect in 2013 and have three thresholds to stop trading: if S&P 500 index drops by 7, 13, or 20 percent. If the market drops 7 or 13 percent before 3:25 p.m., trading will stop for 15 minutes. After 3:25 p.m.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock futures plunge after Trump announces suspension of U.S.-Europe travelU.S. stock futures tumbled Thursday, on the heels of President Donald Trump’s address to the nation, and following another steep selloff on Wall Street that...
Read more »
Economy, stock markets look even shakier after Trump announces European travel ban and NBA suspends seasonDow futures tumbled 1,000 points late Wednesday after President Trump announced a 30-day travel ban from Europe to limit the spread of COVID-19.
Read more »
Stock market news live: Stocks slump, trigger circuit-breaker after Trump declares Europe travel restrictionsUPDATES: Stocks slump, trigger circuit-breaker after Trump declares Europe travel restrictions
Read more »
ViacomCBS’ Coronavirus Stock Slump Threatens Credit Rating Of Redstones’ National AmusementsNational Amusements, the Redstone family holding company, was placed on negative credit watch by ratings agency S&P Global after shares of ViacomCBS – which NAI uses as debt collateral &…
Read more »
Stock Up On Spring Dresses Courtesy of & Other Stories' Massive SaleShop our roundup of sequin wrap dresses, boho florals, and work-ready polka dots ahead, all on sale at & Other Stories now.
Read more »