I remember back in 1998 time frame when emerging market was crashing, and the market dropped 300 points , they closed the market for an hour and after it was reopened and the market dropped 500 points, they closed the market for the day. I don't even remember that it was TSE (Toronto Stock Exchange) rule or US market rule. {I was in Canada in 1998}. Now my question is that do we have such rules in the US market? It has been a long time and I have forgot.
I am not dreaming. I was trading at that time in Canada. But I don't remember it was only a TSE rule or .......
THEY PUT TRADING COLLARS ON THE DOW WHEN IT DROPS 350...like in february...but it still went -520 before it bounced a bit....forget what the collar restrictions are placed but they dont ever close the market here except for 911 disasters.