With Dow futures having hit circuit-breakers on declines early this morning, it’s worth reminding yourself what the current limits are:
Level 1 Halt
A 1,100-point drop in the DJIA before 2 p.m. will halt trading for one hour; for 30 minutes if between 2 p.m. and 2:30 p.m.; and have no effect if at 2:30 p.m. or later unless there is a level 2 halt.
Level 2 Halt
A 2,200-point drop in the DJIA before 1:00 p.m. will halt trading for two hours; for one hour if between 1:00 p.m. and 2:00 p.m.; and for the remainder of the day if at 2:00 p.m. or later.
Level 3 Halt
A 3,350-point drop will halt trading for the remainder of the day regardless of when the decline occurs.
In short, the Dow circuitbreaker numbers to watch today, should selling pick up again, are 7,591.25, 6.491.25, and 5,341.25.