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CNBC: Stock market being halted for 15 min to combat dramatic 7% plunge of stocks, DOW and S&P 500

BAD

Member
Oct 25, 2017
9,565
USA


We have a sort of de facto stock market thread but this was eye-catching. Apologies if old.

www.resetera.com

Stock Market Watch |OT| I've stocked up on market watches, what now?

Might be a historically bad day point wise, depending on where the market finishes. Not too much of a blip percentage wise though as markets arent too far off alltime highs. There was a decent sell-off late last week so we shall see if we run into a similar situation (which looked very scary at...
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UPDATE: Reopened, still troubled


UPDATE: it was fake news
 
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DrFunk

DrFunk

Member
Oct 25, 2017
11,874


Edit:
Screenshot_20200309-081126_Twitter.jpg
 
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kess

kess

Member
Oct 27, 2017
3,020
Anybody remember that thread about the medical student who was advised to put her money in the market instead of paying off her student loans?
 
Alexandros

Alexandros

Member
Oct 26, 2017
17,810

Deleted member 8861

User requested account closure
Banned
Oct 26, 2017
10,564
That 2000 Dow drop is the same metric that had a thread for it when it dropped only 900 points at first, right?
 

Deleted member 26591

Member
Oct 30, 2017
3,295
Remember a lot of trading is automated; in the past this has caused a cascade where the algorithms just get overwhelmed. A halt in trading could stop that systematic automated trading.
 
platocplx

platocplx

2020 Member Elect
Member
Oct 30, 2017
36,072
gonna be a bad time for trump, Looking like we are finally heading for a recession.

NomadPete said:
Remember a lot of trading is automated; in the past this has caused a cascade where the algorithms just get overwhelmed. A halt in trading could stop that systematic automated trading.
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This too all the algos dont know how to handle this. which is also probally causing the most of these issues.
 
djplaeskool

djplaeskool

Member
Oct 26, 2017
19,740
Alexandros said:
So why is this happening?
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Pick your poison
  • Oil price war
  • COVID-19 and the various responses worldwide
  • The utter eventuality that a supply crash from China will turn into a demand crash
  • Economic numbers from around the world coming in tepid (using metrics from BEFORE Coronavirus spread)
The current stock market has been long boosted by an arc of unending confidence and optimism.
Irrational Exuberance, as a man once coined it.
That shit is GONE now.
 
Pandora012

Pandora012

Moderator
Oct 25, 2017
5,495
Congrats!!! We just had a circuit breaker!!!

Another will hit if we fall 13%, then another at 20%.
 
Cow Mengde

Cow Mengde

Member
Oct 26, 2017
12,713
People were too quick to relax after the recent bounce back up. We know the virus is the reason for the drop. Without any solid/good news regarding this issue, the market would remain unstable.
 
Saya

Saya

Member
Oct 25, 2017
4,972


A 15-minute trading halt trading halt took hold after the S&P 500 Index fell 7% in New York, triggering the breaker for the first time since December 2008 at the depths of the financial crisis
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Doesn't seem great
 
platocplx

platocplx

2020 Member Elect
Member
Oct 30, 2017
36,072
Pandora012 said:
Congrats!!! We just had a circuit breaker!!!

Another will hit if we fall 13%, then another at 20%.
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Info for others on these.
Exchange Circuit Breakers
Stock exchanges can also take measures to ease panic selling by invoking Rule 48 and halting trading when markets have severe downside movements. Under 2012 rules, market-wide circuit breakers (or 'curbs') kick in when the S&P 500 index drops 7% for Level 1; 13% for Level 2; and 20% for Level 3 from the prior day's close. A market decline that triggers a Level 1 or 2 circuit breaker before 3:25 p.m. Eastern Time will halt trading for 15 minutes, but will not halt trading at or after 3:25 p.m.

Circuit breakers can also be imposed on single stocks as opposed to the whole market. Under current rules, a trading halt on an individual security is placed into effect if there is a 10% change in value of a security that is a member of the S&P 500 Index, Russell 1000 Index or QQQ ETF within a 5-minute time frame, 30% change in value of a security whose price is equal or greater than $1 per share, and 50% change in value of a security whose price is less than $1 per share.
www.investopedia.com

What Is a Trading Halt? Definition, How It Works, and Causes

A trading halt is a temporary stop in the trading of a particular security on one or more exchanges.
www.investopedia.com www.investopedia.com
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Hamchan

Hamchan

The Fallen
Oct 25, 2017
4,966
Knew a correction would be coming eventually with Trump helping to blow up the stocks over the past few years but this cornovirus and oil price war has sure exacerbated the drop.
 
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