NYSE Circuit Breakers Friday, October 24, 2008
Posted by ei-forum in Miscellaneous.trackback
Just for info – from the NYSE site:
NYSE Circuit Breakers
In response to the market breaks in October 1987 and October 1989 the New York Stock Exchange instituted circuit breakers to reduce volatility and promote investor confidence. By implementing a pause in trading, investors are given time to assimilate incoming information and the ability to make informed choices during periods of high market volatility.
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Unfortunately those circuit breakers are necessary to keep traders from panicking against their own interests. Panic selling will only drive the market down and create more panic selling.