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Stock Trading Halted After Markets Plunge At Market Open | NBC News

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>>> THIS IS AN NBC NEWS SPECIAL >>> THIS IS AN NBC NEWS SPECIAL REPORT REPORT

HERE’S SAVANNAH GUTHRIE HERE’S SAVANNAH GUTHRIE >> GOOD MORNING, EVERYBODY >> GOOD MORNING, EVERYBODY WE’RE COMING ON THE AIR WITH WE’RE COMING ON THE AIR WITH BREAKING NEWS

BREAKING NEWS THIS IS THE NEW YORK STOCK THIS IS THE NEW YORK STOCK EXCHANGE EXCHANGE THE TRADING DAY IS JUST THE TRADING DAY IS JUST BEGINNING ON WALL STREET AND BEGINNING ON WALL STREET AND THERE ARE FEARS THAT THE DOW THERE ARE FEARS THAT THE DOW WILL DROP AND DROP QUICKLY AND WILL DROP AND DROP QUICKLY AND WE’RE ALREADY SEEING THAT WE’RE ALREADY SEEING THAT

FUTURES OVER THE WEEKEND WERE FUTURES OVER THE WEEKEND WERE DOWN SO MUCH THAT THEY ACTUALLY DOWN SO MUCH THAT THEY ACTUALLY HAD TO PUT AN EMERGENCY TRIGGER HAD TO PUT AN EMERGENCY TRIGGER THAT STOPPED TRADING AND THE THAT STOPPED TRADING AND THE EXPECTATION AND FEAR IS THAT WE EXPECTATION AND FEAR IS THAT WE WILL SEE MARKETS IN FREE FALL WILL SEE MARKETS IN FREE FALL THIS MORNING HERE IN THE US AS THIS MORNING HERE IN THE US AS THEY HAVE DONE IN THE GLOBAL THEY HAVE DONE IN THE GLOBAL MARKETS ALREADY TODAY

MARKETS ALREADY TODAY LET’S GET RIGHT TO CNBC’S BECKY LET’S GET RIGHT TO CNBC’S BECKY QUICK, WHO IS AT THE STOCK QUICK, WHO IS AT THE STOCK EXCHANGE FOR US EXCHANGE FOR US BECKY, THIS IS EXPECTED, BUT BECKY, THIS IS EXPECTED, BUT HERE WE GO HERE WE GO

THE NUMBERS ARE ALREADY IN FREE THE NUMBERS ARE ALREADY IN FREE FALL FALL >> THAT’S RIGHT, THIS MORNING WE >> THAT’S RIGHT, THIS MORNING WE HAD BEEN LOOKING AT THE FUTURES HAD BEEN LOOKING AT THE FUTURES DOWN BY 5% DOWN BY 5% AS YOU MENTIONED, THAT’S AS FAR AS YOU MENTIONED, THAT’S AS FAR AS THEY WILL ALLOW THE FUTURES AS THEY WILL ALLOW THE FUTURES TO TRADE DOWN, BUT IN THE FIRST TO TRADE DOWN, BUT IN THE FIRST MOMENT, YOU’RE SEEING THE STOCK MOMENT, YOU’RE SEEING THE STOCK MARKET MOVE BELOW THAT

MARKET MOVE BELOW THAT IT LOOKS LIKE THE DOW IS DOWN BY IT LOOKS LIKE THE DOW IS DOWN BY ABOUT 69% ABOUT 69%

THIS IS MASSIVE PRESSURE THIS IS MASSIVE PRESSURE FU HAVEN’T LOOKED AT YOUR 401(K) FU HAVEN’T LOOKED AT YOUR 401(K) OVER THE LAST FEW WEEKS, I OVER THE LAST FEW WEEKS, I WOULDN’T RECOMMEND DOING IT WOULDN’T RECOMMEND DOING IT WE HAD SEEN THE MARKETS DOWN BY WE HAD SEEN THE MARKETS DOWN BY 12%

12% NOW YOU’RE ADDING DECLINES OF NOW YOU’RE ADDING DECLINES OF MORE THAN 7% MORE THAN 7% THE 7% THAT WE’RE SITTING AT THE 7% THAT WE’RE SITTING AT RIGHT NOW, THAT WILL KICK IN RIGHT NOW, THAT WILL KICK IN ADDITIONAL CIRCUIT BREAKERS ADDITIONAL CIRCUIT BREAKERS

THE NEW CIRCUIT BREAKERS ARE THE NEW CIRCUIT BREAKERS ARE THERE TO TRY TO PREVENT PANIC THERE TO TRY TO PREVENT PANIC SELLING SELLING >> THE CIRCUIT BREAKERS KICK IN >> THE CIRCUIT BREAKERS KICK IN WHEN? WHEN? >> FOR THE S&P 500, THE KIRCIRCU >> FOR THE S&P 500, THE KIRCIRCU BREAKER WOULD KICK IN 7% BREAKER WOULD KICK IN 7% YOU WILL SEE A PAUSE IN TRADING YOU WILL SEE A PAUSE IN TRADING FOR 15 MINUTES

FOR 15 MINUTES THEN IF YOU SEE THE S&P TRADING THEN IF YOU SEE THE S&P TRADING DOWN 13% FROM THOSE ORIGINAL DOWN 13% FROM THOSE ORIGINAL LEVELS WHERE IT CLOSED ON LEVELS WHERE IT CLOSED ON FRIDAY, IT WOULD PAUSE AGAIN FOR FRIDAY, IT WOULD PAUSE AGAIN FOR ANOTHER 15 MINUTES ANOTHER 15 MINUTES AND THEN IF YOU SEE A 20% AND THEN IF YOU SEE A 20% DECLINE AT ANY POINT BEFORE 3:25 DECLINE AT ANY POINT BEFORE 3:25 PM

BECAUSE THE MARKETS CLOSE PM BECAUSE THE MARKETS CLOSE AT 4:00 PM IF YOU SEE A AT 4:00 P

M IF YOU SEE A DECLINE OF 20%, THE MARKET WOULD DECLINE OF 20%, THE MARKET WOULD HALT TRADING FOR THE DAY HALT TRADING FOR THE DAY IT’S WORTH POINTING OUT THAT WE IT’S WORTH POINTING OUT THAT WE HAVE NOT SEEN THESE CIRCUIT HAVE NOT SEEN THESE CIRCUIT BREAKERS TRIGGERED SINCE WE WENT BREAKERS TRIGGERED SINCE WE WENT INTO EFFECT AT 2013 INTO EFFECT AT 2013

WE’LL BE WATCHING CLOSELY, WE’LL BE WATCHING CLOSELY, BECAUSE I’M LOOKING AT THE S&P BECAUSE I’M LOOKING AT THE S&P BY 659%, SO WE ARE NEAR THOSE BY 659%, SO WE ARE NEAR THOSE LEVELS WHERE YOU WOULD SEE LEVELS WHERE YOU WOULD SEE CIRCUIT BREAKERS KICK IN CIRCUIT BREAKERS KICK IN THE BIG REASON, PEOPLE ARE THE BIG REASON, PEOPLE ARE CONCERNED ABOUT CORONAVIRUS AND CONCERNED ABOUT CORONAVIRUS AND WHAT THAT IS GOING TO BE FOR THE WHAT THAT IS GOING TO BE FOR THE BROADER ECONOMY

BROADER ECONOMY THE SECTORS GETTING THE HARDEST, THE SECTORS GETTING THE HARDEST, YOU HAVE TO LOOK AT TRAVEL YOU HAVE TO LOOK AT TRAVEL INDUSTRY, I SAW CRUISE LINES INDUSTRY, I SAW CRUISE LINES TRADING DOWN 10 TO 12% TRADING DOWN 10 TO 12% AIRLINES, 4 TO 7% AIRLINES, 4 TO 7%

AND HOTELS, A LOT OF PRESSURE, AND HOTELS, A LOT OF PRESSURE, TOO TOO THE OTHER BIG ISSUE IS THAT WE THE OTHER BIG ISSUE IS THAT WE REALLY SAW A BIG ISSUE WITH THE REALLY SAW A BIG ISSUE WITH THE OIL MARKETS OVER THE WEEKEND, OIL MARKETS OVER THE WEEKEND, TOO TOO IF YOU’RE LOOKING AT CRUDE OIL, IF YOU’RE LOOKING AT CRUDE OIL, IT’S BEEN DOWN MORE THAN 20% AND IT’S BEEN DOWN MORE THAN 20% AND THAT’S HAVING A HUGE IMPACT ON THAT’S HAVING A HUGE IMPACT ON ALL OF THE OIL COMPANIES OUT ALL OF THE OIL COMPANIES OUT THERE, BIG OIL COMPANIES, THERE, BIG OIL COMPANIES, INCLUDING EXXON MOBIL AND INCLUDING EXXON MOBIL AND CHEVRON

CHEVRON THIS IS HAPPENING BECAUSE OF THIS IS HAPPENING BECAUSE OF CONCERNS ABOUT AN ECONOMIC CONCERNS ABOUT AN ECONOMIC BELOWDOWN, BUT ALSO BECAUSE THE BELOWDOWN, BUT ALSO BECAUSE THE SAUDIS AND RUSSIANS GOT INTO A SAUDIS AND RUSSIANS GOT INTO A BIG FIGHT OVER THE WEEKEND AND BIG FIGHT OVER THE WEEKEND AND THE SAUDIS ARE REALLY TRYING TO THE SAUDIS ARE REALLY TRYING TO DO AN OIL PRICE WAR AND THAT’S DO AN OIL PRICE WAR AND THAT’S WHY YOU’RE SEEING ALL OF THESE WHY YOU’RE SEEING ALL OF THESE ISSUES COME A A HEAD ISSUES COME A A HEAD >> TIME COULDN’T BE WORSE TO BE >> TIME COULDN’T BE WORSE TO BE HAVING THAT TURF WAR WITH THE HAVING THAT TURF WAR WITH THE ECONOMIC STRUGGLING UNDER THE ECONOMIC STRUGGLING UNDER THE WEIGHT OF THE CORONAVIRUS WEIGHT OF THE CORONAVIRUS

WE’RE GOING TO KEEP AN EYE ON WE’RE GOING TO KEEP AN EYE ON THE DOW JONES THE DOW JONES WE’RE TALKING ABOUT THE OTHER WE’RE TALKING ABOUT THE OTHER CIRCUIT BREAKERS, THAT WAS IN CIRCUIT BREAKERS, THAT WAS IN REGARD TO THE S&P REGARD TO THE S&P WHAT WE’RE SHOWING YOU IS THE WHAT WE’RE SHOWING YOU IS THE DOW

DOW BUT YOU GET A SENSE OF IT, ALL BUT YOU GET A SENSE OF IT, ALL THE US MARKETS AS THEY OPEN THE US

MARKETS AS THEY OPEN THIS MORNING THIS MORNING I WANT TO GO TO GEOFF BENNETT AT I WANT TO GO TO GEOFF BENNETT AT THE WHITE HOUSE THE WHITE HOUSE OBVIOUSLY THE WHITE HOUSE IS OBVIOUSLY THE WHITE HOUSE IS WATCHING THE PUBLIC HEALTH WATCHING THE PUBLIC HEALTH CRISIS UNFOLDING, BUT ALSO THIS CRISIS UNFOLDING, BUT ALSO THIS ECONOMIC CRISIS WE’RE SEEING

ECONOMIC CRISIS WE’RE SEEING >> Reporter: YOU’RE RIGHT ABOUT >> Reporter: YOU’RE RIGHT ABOUT THAT, SAVANNAH THAT, SAVANNAH ADMINISTRATION OFFICIALS SAY ADMINISTRATION OFFICIALS SAY THEY ARE MONITORING THE STOCK THEY ARE MONITORING THE STOCK MARKET OPEN MARKET OPEN

THERE WAS AN EXPECTATION THAT THERE WAS AN EXPECTATION THAT THERE WOULD BE SOMETHING OF A THERE WOULD BE SOMETHING OF A NEGATIVE REACTION TO THE NEGATIVE REACTION TO THE CORONAVIRUS CRISIS, BUT IN MANY CORONAVIRUS CRISIS, BUT IN MANY WAYS, THEY ARE WATCHING THIS WAYS, THEY ARE WATCHING THIS SLIDE IN REAL TIME AS WE ARE SLIDE IN REAL TIME AS WE ARE PRESIDENT TRUMP STILL IN PRESIDENT TRUMP STILL IN FLORIDA FLORIDA HE SPENT THE WEEKEND THERE

HE SPENT THE WEEKEND THERE HE HAS A SERIES OF FUNDRAISERS HE HAS A SERIES OF FUNDRAISERS TODAY TODAY WE DON’T EXPECT TO HEAR FROM HIM WE DON’T EXPECT TO HEAR FROM HIM IN PUBLIC APART FROM HIS TWEETS IN PUBLIC APART FROM HIS TWEETS UNTIL LATER TODAY UNTIL LATER TODAY

BUT AS YOU WELL KNOW, PRESIDENT BUT AS YOU WELL KNOW, PRESIDENT TRUMP HAS SPENT THE BETTER PART TRUMP HAS SPENT THE BETTER PART OF THE LAST THREE YEARS REALLY OF THE LAST THREE YEARS REALLY PERSONALIZING THE STOCK MARKET PERSONALIZING THE STOCK MARKET THE OVERALL ECONOMY THE OVERALL ECONOMY MAKING THE CASE THAT ONE OF THE MAKING THE CASE THAT ONE OF THE REASONS FOR THE STOCK MARKET’S REASONS FOR THE STOCK MARKET’S SUCCESS UNTIL THIS POINT WAS SUCCESS UNTIL THIS POINT WAS BECAUSE OF HIS STEWARDSHIP AS BECAUSE OF HIS STEWARDSHIP AS PRESIDENT

PRESIDENT BUT THERE IS A REASON WHY US BUT THERE IS A REASON WHY US

PRESIDENTS DON’T REALLY BOAST PRESIDENTS DON’T REALLY BOAST ABOUT THE STOCK MARKET, BECAUSE ABOUT THE STOCK MARKET, BECAUSE IF YOU OWN THE HIGHS, IF YOU OWN THE HIGHS, POLITICALLY YOU ALSO OWN THE POLITICALLY YOU ALSO OWN THE LOWS LOWS SO WE WILL SEE HOW ANY OF THIS, SO WE WILL SEE HOW ANY OF THIS, SETTING ASIDE THE REAL PUBLIC SETTING ASIDE THE REAL PUBLIC HEALTH CRISIS, WE WILL SEE HOW HEALTH CRISIS, WE WILL SEE HOW THE SITUATION IMPERILS THE PITCH THE SITUATION IMPERILS THE PITCH THAT PRESIDENT TRUMP IS MAKING THAT PRESIDENT TRUMP IS MAKING TO VOTERS IN THIS RE-ELECTION TO VOTERS IN THIS RE-ELECTION YEAR FOR HIM YEAR FOR HIM >> GEOFF BENNETT AT THE WHITE >> GEOFF BENNETT AT THE WHITE HOUSE, BECKY QUICK AT THE STOCK HOUSE, BECKY QUICK AT THE STOCK MARKET THIS MORNING

MARKET THIS MORNING WE’LL CONTINUE TO KEEP OUR EYE WE’LL CONTINUE TO KEEP OUR EYE ON WHAT’S HAPPENING ON WHAT’S HAPPENING YOU CAN FIND OUT NOR ON

Source: Youtube

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