Page 93 - Circuit Breakers News Today

Course, because of algorithms, because of high frequency trading, we see considerably more volatility. just as much as we saw that volatility on the upside, so were going to see it on the downside, which is why we are going to see these 1,000-point moves in a day, 5%. by the way, to those who are thinking about circuit breakers and i heard rana talking about it a moment ago, the timing is 3:25 in the afternoon when the circuit breakers rules change. if the market was to fall or the s&p was to fa...

I remember in the middle of the session and leaving the session and going to the nearest bar. we went on a decade long run after that. it was tough to go through it. this is what you have to do. you have to explain to folks, the late comers, theres a lot of people that missed a lot of this rally, just got in, feel like theyre snake bit and they lost again and they were sellers. you had a lot:0 programs selling. you joked about the times lapse thing. at one point it was real time. >> neil: im tel...

Ill give you another warning. one trader said we can go back down and test the levels again. dont be surprised if you see it. take a breath and think about what you want for the long-term. if you have a short term horizon, you probably shouldnt be here. >> shepard: thanks, nicole. hopefully things have moderated for the day. if youre watching such things, circuit breakers that were installed after previous market collapses dont kick in until 7%. that means the overall market, the industrial aver...

No doubt about that. over the course of the law, its a transfer of wealth from the middle class to the rich. how do they reconcile that? how i do they say theyre going to do what they promised to do? >> thats the argument. they think they can grow the economy and the old kennedy express that a rising tide will lift all votes. they put the immediate benefit in the first few years. thats what they have done here. not all tax cuts are permanent. thats something that theyll have to have another cong...

That is just mind blowing. all of this driven by hope for tax cuts and strong corporate profits. this latest mile steen comes on the eve of anniversary of black monday. 30 years ago today. the dow fell 22.6%. the biggest one day percentage decline in history. still stands as the worst day. its a crash that couldnt happen today thanks to modern trading technologies circuit breakers that stop the panic. blue apron laying off, trimming 6% of its staff. blue aprons stock has collapsed, cut in half...

23,000 the dow has hit 20, 21, now 23,000 this year alone driven mainly by hope for tax cuts and strong corporate profits. latest milestone comes on the eve of a dark anniversary for the dow. black monday, 30 years ago today, the dow fell 22.6%, the biggest decline of all time. something that honestly could happen again because we have circuit breakers in the system now to prevent panicky people and overloaded computers from selling so strongly. seriously, 1987. that was a day a lot of folks got...

Closing above 23,000 for the first time wednesday. today its the 30th anniversary of black monday the largest one day drop the u.s. history. nicole live on the floor of the new york stock exchange. nicole, what do you have? >> dana, were watching a market slightly under pressure today. we closed at a record all-time high yesterday, above that 23,000 mark. it was the fourth 1,000 milestone of 2017. so you had 20, 21, 22, 23,000. today under a little bit of pressure. lets go to 1987. this was 30 y...

Trading? the answer is not likely. it would be -- dont expect it to happen. there are circuit breakers now. the flash crash 2010. circuit breakers would stop the market, take a break, reconvene. things are different now. what a day that was. >> bill: that would be drama if that happened. >> sandra: thank you. >> bill: 35 minutes past. >> sandra: heated moments on capitol hill yesterday as attorney general jeff sessions testified before the senate judiciary committee. democrats grilled him on his...

>> reporter: the sirk circuit breakers confused investors. and they panicked when the market fell by 7%. you remember mid last week, i think the shanghai composite was open all of 29 minutes for the entire trading day because it kept on kiting those circuit breakers. they were removed on friday because they were having the opposite effect of what was intended. the difference this week is youre seeing the markets falling down 5% now but there is no circuit break tore ster to s market. it should b...

Than creating valuable evidence against him. >> all right. denny, thank you so much. we appreciate your analysis on this. >> thank you. >> and it is a grim start to the trading week after last weeks chaos in the chinese markets. >> thats right. it looks very much similar to what we saw at this time last week. you see on the right side of your screen the shanghai composite as dropped more than 5% as has to shenzhen composite. for more perspective on this, lets bring in andrew stevens from hong ko...