1. . Please describe the four times when S&P500 index hit its circuit breakers on March...

1. . Please describe the four times when S&P500 index hit its circuit breakers on March 9, 12, 16, and March 18.

Solutions

Expert Solution

Circuit Breaker is that level, when reached then trading gets halted in the entire market.

These levels are:-

Level 1 - 7%

Level 2 - 13%

Level 3 - 20%

These levels means that if the market drops dramatically by 7% or 13% or 20% as compared to the closing prices of the previous day then trading in the market will be halted.

If it drops by more than 7% then trading will stop for 15 minutes if this drop takes place before 3:25 pm and if drops occur after 3:25 pm, then trading will be halted only if level 3 is achieved.
If it drops by more than 13% then trading will stop for 15 minutes if this drop takes place before 3:25 pm and if drops occur after 3:25 pm, then trading will be halted only if level 3 is achieved.
If it drops by more than 20% then trading will stop for the entire remaining day

So, on 9th, 12th and 16th of March, the level 1 i.e. 7% was triggered in the opening hour of the day i.e. there was a dramatic drop of 7% as compared to the close of previous day, so trading was halted for 15 minutes in the entire stock market.

On march 18th, the level 1 of 17% was triggered on the later part of the day but before 3:25 pm, so again trading was halted for 15 minutes.

All these triggers of circuit breaker levels is because of the global pandemic of Coronavirus.

jeff jeffy answered 2 years ago

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