Stats › Intraday et microstructure de marché › Coupe-circuits
The American market wide circuit breaker has fired once in its original form, in 1997
| Période | Reference index | Thresholds | Halt lengths |
|---|---|---|---|
| From 1988 | Dow Jones Industrial Average | 250 and 400 points | one hour and two hours |
| From July 1996 | the same | 250 and 400 points | halved |
| To 31 January 1998 | the same | 350 and 550 points | 30 minutes and end of day |
| From April 1998 | the same | 10, 20 and 30 per cent | with time of day rules |
| From 8 April 2013 | S&P 500 | 7, 13 and 20 per cent | 15 minutes, 15 minutes, rest of day |
The current thresholds are recalculated daily rather than quarterly and are measured as a decline from the previous day's close. The third level halts trading for the remainder of the day and applies at any time. On 15 October 2026 the published daily levels were 7178.61, 6715.47 and 6175.15, implying a previous close of roughly 7,719; the page carrying them did not state the date they applied to.
The only verified market wide trigger under the original point based rule came on 27 October 1997, when a 350 point decline halted trading for thirty minutes and a 550 point decline ended the session early.
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