IRAQ's Hussein Allows NYSE To Test New Circuit Breaker
THIS WEEK'S LEAD STORIES
News of Iraq's invasion of Kuwait on Friday Aug. 3 tested newly implemented New York Stock Exchange (NYSE) rule changes designed to reduce volatility. The amendments to NYSE Rule 80A, expanding usage of both the sidecar and the circuit breaker restrictions on program trading, were cleared by the SEC July 30 for a one-year pilot program.
On Aug. 3, Dow Jones Industrial Average dropped 50 points in the first 23 minutes of trading. At 9:53 a.m., New York time, the circuit breaker became active. At
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