MELTDOWN👀

    Today is the first day of spring break, trying to get familiar with things about the circuit breaker.
    Us stocks fell sharply in early trading, then hit the 7% limit, triggered circuit brekers and briefly pared losses as trading resumed. By the end of trading, all three major Indices in New York were still down more than 7%, with the Dow Jones Industrial Average down 2013.76 points, or 7.79%, at 23,851.02. The STANDARD & Poor's 500-stock index fell 225.81 points, or 7.60 percent, to 2,746.56. The Nasdaq composite index fell 624.94 points, or 7.29 percent, to 7,950.68. Energy, financials and industrials led the way with declines of 16.64%, 8.24% and 6.16%, respectively.

    *I looked it up. The circuit breakers, also known as trading curbs, originated in the United States and are measures taken by exchanges to halt trading in order to prevent further panic from hitting the market. It is simply a mechanism of setting a circuit breaker price for a contract before it reaches the limit of rise and fall, so that the contract offer price can only be traded within this price range for a period of time. Circuit breakers were introduced in 1988 due to the stock market crash on October 19, 1987. According to the rules of the CIRCUIT breakers, the circuit breakers can be divided into three levels during US trading hours, namely, when the market falls by 7%, 13% and 20%, they trigger one, two and three level circuit breakers respectively, stopping trading for 15 minutes.*

    However, the first circuit breaker in U.S. stock market history did not occur until October 27, 1997. The Dow Jones Industrial Average plunged 7.18% to close at 7161.15, its biggest drop since 1915. The U.S. stock market this week hit the circuit suspension second time in history.