As we noted pre-open, S&P futures were locked limit-down 5%, but as we noted SPY was trading down 7.5% in the pre-open and now that the cash S&P 500 has opened and tumbled 7%…
it is now halted for 15mins as the first major circuit-breaker has kicked in. As a reminder:
- If the S&P 500 declines 7%, (208 points), trading will pause for 15 min
- If declines 13%, (386 pts) trading will again pause for 15 mins
- If falls 20%, (594 pts) the markets would close for the day.
Additionally, Canadian stocks are down 7% at the open, the most sicne 2008; and Brazilian stocks are down 10% at the open, triggering their circuit breaker.
https://www.zerohedge.com/markets/sp-opens-down-7-immediately-halted-15-mins-trigger-circuit-breaker
zero value fraud. Plunge protection team not a free market.
It looks to me like the plunge protection team is working overtime to keep the market afloat, and traders just keep pocketing the money, and the market collapses again.
I don’t think it’s possible to recover from a 7% drop. (this is THE crash, or at least the beginning of it)
Triggers circuit breaker, hard to read this feces without a strong chuckle, wonder who that “Son of a Gun” was who pulled the trigger???? LMAO!!!!
Probably lucky old larry shekelstein from the wings yelled “pull it!”
He’s got that kind of majic, ya know?!