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The Headline
Stocks Slammed, Market Circuit-Breakers Triggered, Trading Halted
The Grind
Stock trading was briefly halted shortly after the market opened on Monday after the S&P 500 declined sharply, triggering an automatic 15-minute "circuit-breaker" that kicks in when the index falls by 7 percent. The 7 percent threshold was passed about four minutes after the opening bell Monday, halting trading until 9:49 am.
Shortly after stocks resumed trading, the S&P, Dow Jones Industrial Average, and the Nasdaq Composite were all down by around 6 percent, indicating a small bounce for stocks from the level that halted trading.
The Details
Futures on the big equities index hit trading curbs on Sunday night and early Monday morning when they fell below 5 percent of Friday's close. Stock trading circuit-breakers are thresholds that trigger trading halts when stocks fall below certain levels. A Level 1 halt, triggered four-minutes after the open Monday, occurs when the S&P 500 drops by 7 percent before 3:25 p.m. Trading is halted for 15 minutes. A Level 2 halt,
which halts trading for an additional 15 minutes, is triggered if stocks fall by an additional 6 percent, a 13 percent overall decline, from the prior close before 3:25 p.m. Read more... | | | | | | | | | | | | Endorsements | | | | The Headline
Jesse Jackson Endorses Bernie Sanders In Michigan
The Grind
Civil rightser Rev. Jesse Jackson is feeling the Bern and endorsed the socialist senator on Sunday. In a statement, Jackson hailed Sen. Bernie Sanders (I-VT) for being the candidate that will forge the "most progressive" path, arguing that the "moderate" path will leave people behind. Jackson also made a point of noting that frontrunner former Vice President Joe Biden never reached out to him for his endorsement, while Sanders did. "With the exception of Native
Americans, African Americans are the people who are most behind socially and economically in the United States and our needs are not moderate," said Jackson, as reported by CNN. "A people far behind cannot catch up choosing the most moderate path.
The Details
The most progressive social and economic path gives us the best chance to catch up and Senator Bernie Sanders represents the most progressive path. That's why I choose to endorse him today." "The Biden campaign has not reached out to me or asked for my support," he added. "The Sanders campaign has, and they responded to the issues I raised." According to CNN, Sanders pledged to Jackson that he
would push a constitutional amendment supporting a wealth tax, allocate $50 billion to historically black colleges, and nominate an African-American woman to the Supreme Court. Jackson most especially appreciated Sanders' plan for a single-payer health care system. Read more... | | | | | | |  |
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