SHOCKING!!!news NYSE removes downside trading curbs
Reuters) - The New York Stock Exchange said on Thursday it removed downside trading curbs as U.S. stocks pared early losses.
The curbs were instituted as stocks plummeted after the opening bell. The New York Stock Exchange Composite Index .NYA, which is used to determine when to begin trading curbs, was last down 98.33 points, or 1 percent, at 9026.21. It was down more than 2 percent earlier in the day.
this was in March 2007, just before the start of the 2007 stock market crash, these trading curbs were made so that if the dow drop the trading curbs would kick in, so the real reason the "FLASH CRASH" happened because the "trading curbs" were removed in 2007 by the NYSE
they cited that the "trading curbs" were not needed any longer, guess they were wrong.
This opens up the question for the blog- What was the real reasoning for the removal of the trading curbs in March 2007