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How Much Lower Does The S&P Have To Drop For The Entire Market To Be Shut Down
With the ES, along with all other index futures halted limit down, the next question is how much lower would cash indices have to drop before the market takes a holiday. Here is the answer courtesy of Bloomberg Based on S&P 500 close 1970.89 on Fri. and Level 1 circuit-breaker trigger of 7% drop, S&P 500 would need to drop to ~1833 to set it off, rules posted on NYSE website say. Level 1 halt at 7% drop; Level 2 at 13% (S&P 500 at 1715 based on Fri. close), Level 3 at 20% (S&P 500 ~1577) Level 1 or Level 2 drop between 9:30am-3:25pm ET would result in trading halt for 15 minutes; Level 3 drop would halt trading for ... (full story)
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