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Re: JohnSamuel post# 2995

Sunday, 08/07/2011 4:17:22 PM

Sunday, August 07, 2011 4:17:22 PM

Post# of 4452
Yeah I shouldn't have added that in there.... it's all about the numbers...

After the market crashes of October 1987 and October 1989, the New York Stock Exchange added circuit breakers to halt trading when stocks plunge. If the Dow drops 1050 points before 2 p.m., the exchange shuts down for an hour. If it happens between 2-2:30 p.m., trading halts for 30 minutes. But if a 1050-point dive happens after 2:30 p.m., as it almost did yesterday (at 2:47 it was down nearly 1,000), trading doesn't stop till the end of the day. Trading almost reached halting levelts back in October 2008, but again fell short of the drop needed to trigger the circuit breakers.



http://finance.fortune.cnn.com/2010/05/07/stock-market-swerve-faq/