Why wasn’t trading suspended? Surely 900 points would do it?
Just listening to Rush, he said they can’t suspend trading after 2:30.
One has to wonder if the fed has buy orders (via bank proxies) positioned for situations like this. That rebound was far to sharp and hit immediately at 10k.
After 2:30 pm this quarter it would take over 2000.
Someone on Fox just explained the stopping point is 10%..which in this case would be around 1100 I think they said.
Rush said that after 2:30PM, trading cannot be suspended.
Automatic “buy orders” kicked in and that’s why the recovery started so quickly.