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You are wrong about that. See T5, T6, and H10 halts.


T5: Single Stock Trading Pause in Effect Trading has been paused by NASDAQ due to a 10% or more price move in the security in a five-minute period.

T6: Halt - Extraordinary Market Activity Trading is halted when extraordinary market activity in the security is occurring; NASDAQ determines that such extraordinary market activity is likely to have a material effect on the market for that security; and 1) NASDAQ believes that such extraordinary market activity is caused by the misuse or malfunction of an electronic quotation, communication, reporting or execution system operated by or linked to NASDAQ; or 2) after consultation with either a national securities exchange trading the security on an unlisted trading privileges basis or a non-NASDAQ FINRA facility trading the security, NASDAQ believes such extraordinary market activity is caused by the misuse or malfunction of an electronic quotation, communication, reporting or execution system operated by or linked to such national securities exchange or non- NASDAQ FINRA facility.

H10: Halt - SEC Trading Suspension The Securities and Exchange Commission has suspended trading in this stock.


Those seem to me be to be directed more at price manipulation of individual stocks (eg pump and dump schemes) than restraining enthusiasm across the whole market. I'm open to correction on this (and will not demand a halt).


Because my google-fu is so bad ... has a major exchange ever actually stopped trading because it gained too much?


The T5/T6 are not really directional circuit breakers though. They are momentum breakers that don’t bias towards downward momentum.




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