March 9, 2020 / 2:26 PM / 20 days ago

U.S. stock market circuit breakers working as expected: NYSE president

NEW YORK (Reuters) - Safeguards in the U.S. stock market are functioning as planned, the president of the New York Stock Exchange said on Monday, after a 7% decline in the S&P 500 triggered a 15 minute trading pause shortly after the market opened.

“The market-wide circuit breakers are designed to slow trading down for a few minutes to give investors the ability to understand what’s happening in the market,” Stacey Cunningham, president of Intercontinental Exchange Inc’s NYSE, told CNBC.

Reporting by John McCrank; Editing by Chizu Nomiyama

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