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Circuit Breaker

Circuit-breaker points represent the thresholds at which trading is halted market-wide for single-day declines in the S&P 500 Index. Circuit breakers halt trading on the nation's stock markets during dramatic drops and are set at 7%, 13%, and 20% of the closing price for the previous day. The circuit breakers are calculated daily.

Level 1 halt (7%)

Trading will halt for 15 minutes if drop occurs before 3:25 p.m.
At or after 3:25 p.m.—trading shall continue, unless there is a Level 3 halt.
Level 2 halt (13%)

Trading will halt for 15 minutes if drop occurs before 3:25 p.m.
At or after 3:25 p.m.—trading shall continue, unless there is a Level 3 halt.
Level 3 halt (20%)

At any time during the trading day—trading shall halt for the remainder of the trading day.

The SEC implemented a new marketplace rule, known as the Limit Up / Limit Down Rule (LULD), designed to prevent trades from executing outside of price bands established throughout the day for individual stocks and exchange-traded funds (ETFs).



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All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
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