DOW JONES NEWSWIRES
The New York Stock Exchange set the circuit-breaker thresholds
for the third quarter.
The exchange first implemented the circuit breakers in the wake
of the market's crash in October 1997. In 1998, the NYSE set the
triggers at 10%, 20% and 30% declines in the Dow Jones Industrial
Average for the three levels of halts.
A level 1 halt will stop trading for an hour if the Dow falls
850 points before 2 p.m. ET, or for 30 minutes if triggered between
2 p.m. and 2:30 p.m.
A second-level halt - in the event of a 1,700-point drop - will
last two hours if it happens before 1 p.m., one hour if in the next
hour, or for the rest of the day if after 2 p.m.
Finally, trading will end for the rest of the day, regardless of
timing, if the DJIA falls 2,600 points.
-By Jay Miller, Dow Jones Newswires; 212-416-2355;
jay.miller@dowjones.com