Trading halted as U.S. stocks plummet

throwaway3157 wrote: post #5

For those unaware, this is common practice -- it a control that is working as intended. The trading was halted for 15 minutes

When was the last time this happened?

Re: Trading halted as U.S. stocks plummet

#8

Post by Lagogarda » Mon, Mar 09, 2020, 1:51 PM UTC

first time since the 2016 U.S. presidential election after they fell more than the daily limit of 5%

Re: Trading halted as U.S. stocks plummet

#9

Post by spork12 » Mon, Mar 09, 2020, 1:53 PM UTC

pacerwpg wrote: post #7

throwaway3157 wrote: post #5

For those unaware, this is common practice -- it a control that is working as intended. The trading was halted for 15 minutes

When was the last time this happened?

election night 2016

Re: Trading halted as U.S. stocks plummet

#10

Post by aazaa » Mon, Mar 09, 2020, 1:53 PM UTC

This will be blamed on COVID-19, but the problems go much deeper. Last year the Fed lost control of the repo market. the event was widely discounted at the time as an end-of-tax-year fluke. It wasn't. Six month ago, the yield curve inverted. People who should have known better said "this time is different."

Speculators have been trained over the course of 10+ years to buy the dip. The Fed has your back.

What we're seeing is the beginning of the end of that resolve.

The last time this happened was during the GFC. It's not normal, and it's probably not a one-time event, either.