New York Stock Exchange prepares for potential closing of trading floor due to coronavirus
By John Bowden - 03/12/20 04:00 PM EDT
New York Stock Exchange (NYSE) officials are preparing for the possibility of closing the trading floor and conducting all business electronically in response to the growing coronavirus outbreak.
In a statement to The Wall Street Journal, NYSE officials cautioned that they were taking steps to avoid having to make such a decision, but were prepared to do so if needed.
“The NYSE is a unique meeting place for buying and selling securities,†the official said. “While we constantly test our resilient systems that allow us to operate that meeting place in a fully electronic fashion — which we did, successfully, as recently as last weekend — we are also taking the necessary measures to help ensure that our iconic trading floor remains open for business during this volatile period.â€
The news comes as stocks furthered their downward spiral over concerns about COVID-19. The Dow Jones Industrial Average lost nearly 10 percent of its value on Thursday, its worst day since 1987.
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https://thehill.com/policy/finance/487307-nyse-prepares-for-potential-closing-of-trading-floor-due-to-coronavirus
