- American stock futures trading was halted on Friday morning following deep declines on the Dow Jones Industrial Average and Standard & Poor's 500 indices as global stock markets plunged.
Futures contracts fell more than 6% triggering a "limit down" suspension of selling on either index, as S&P 500 futures sank to 855.20, according to Bloomberg News. Nasdaq futures were also halted. (see the futures here: Markets are in absolute freefall)
All three contracts lost the maximum amount permissible before the start of futures trading in the United States.
Normal trading will resume when both exchanges open at 9:30 a.m. EST, however, if the Dow falls below 1,100 points before 2 p.m. EST, the benchmark index will suspend trading, Bloomberg reported.
A plunge of that scale would prompt a one-hour halt. If stocks fall to that level between 2 p.m. and 2:30 p.m. trades would be stopped for 30 minutes. If the index dips 1,100 points after 2:30 p.m. EST, there would be no halt.
Related Posts :
- The Treasury to announce the second round banks injection as soon as today
- Markets are in absolute freefall
- Swiss banking collapse is going to be one bigest domino to fall
- 10/23/2008 Market Recap-US Flat, Asian Sink
- The Financial Post: Futures halted as trading enters 'panic mode', October 24, 2008
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