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Circuit Breakers, Trading Curbs: A Refresher

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This infographic from the New York Stock Exchange is just about the clearest illustration of when the NYSE will put the breaks on a plummeting market. (Or a skyrocketing market, but that's unlikely to be an issue today.) The circuit breakers don't kick in until there is a 1,250 point drop in the Dow Jones Industrial Average. The "circuit breakers" halt trading for varying periods of time, depending on when the DJIA hits the trigger.
Interesting, a delay in the reporting of the DJIA, such as the one we saw Tuesday when the Glitch slowed down the computer systems calculating and reporting the market index, might affect whether circuit breakers are activated. A ten-percent decline will not trigger a halt to trading if it occurs after 2:30 PM, so a glitch which delayed the reporting until after that point might avoid the NYSE safeguards.
And, even as we're writing this CNBC is reporting that trading collars--which do not halt all trading but are meant to curb certain arbitrage and computer-driven trading--are already in, with the DJIA down nearly 100 points.