Re: First United Airlines, now the NYSE and WSJ

ROMARY · ‎04-28-2010

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'More or less', 'Right or wrong', 'In general', and 'Just thinking out loud ' (as usual).

I can not remember nick · ‎03-09-2010

@onewhiteSparrow wrote:
My thought was or is....

People living in Greece need their money from their investments of stocks. Their Banks went down or they are allowing token amount. So maybe thousands of people cashed out their stocks. Causing a large downward drop of different stocks. So the NYSE closed down the stock exchange. My tiny guess.

The Exchange would not suspend trading in every stock for this reason the Rule is as follows:

At the start of each quarter, the NYSE sets three circuit breaker levels at levels of 7% (Level 1), 13% (Level 2), and 20% (Level 3) of the average closing price of the S&P 500 for the month preceding the start of the quarter, rounded to the nearest 50-point interval. As of the first quarter of 2014, these levels are 126 points, 234 points, and 360 points respectively.[2] Depending on the point drop that happens and the time of day when it happens, different actions occur automatically: Level 1 and Level 2 declines result in a 15-minute trading halt unless they occur after 3:25pm, when no trading halts apply. A Level 3 decline results in trading being suspended for the remainder of the day.
Trading curbs on Dow futures contracts traded on the Chicago Board of Trade are based on NYSE levels, with the exception that only the 10% threshold is in effect outside of regular NYSE trading hours, and is relative to the previous daily settlement price.