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NEW YORK (Dow Jones)--The New York Stock Exchange would implement the
first
level of its new circuit breakers if the Dow Jones Industrial Average
lost
900
points before 2:30 p.m. EDT.
The exchange would halt trading for one hour if the Dow fell 900
points
before 2 p.m., and for 30 minutes if the drop occurred before 2:30 p.m.
The
circuit breakers would have no effect if the 900-point decline occurred
in
the
last 90 minutes of trading.
Furthermore, the NYSE would halt trading for two hours if the index
lost
1,750 points before 1 p.m. Trading would be halted for one hour if the
DJIA
fell 1,750 points before 2 p.m. Trading would be halted the rest of the
day
if
the Dow lost 1,750 points during the last two hours of trade.
Trading would be halted for the remainder of the day if the Dow lost
2,650
points at any point during the session.
Under its revised circuit breaker system, the NYSE resets the three
thresholds each quarter. The point levels roughly represent 10%, 20% and
30%
of the Dow at the start of each quarter.
(END) DOW JONES NEWS 08-27-98
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