“Until then, our bell continues to ring and our markets remain open for business.” “We look forward to the day when we reopen the Floor and welcome back to 11 Wall Street all of the trading floor community, who are so important to the markets we operate,” Cunningham said Monday. Yet with cases of the virus spreading, the NYSE this week is operating without its signature trading floor and moved to fully electronic trading. That brought a sharp rebuke from New York Stock Exchange President Stacey Cunningham, who said in a television interview that reducing or closing trading was not under consideration - a sentiment she made clear to multiple administration officials, including Mnuchin.

Mnuchin conceded that while he wanted the markets to stay open, at least the possibility loomed that trading hours might need to be shortened. instead of worrying about the utter collapse of their 401(k),” he said on Twitter. “Get everyone’s minds to focus on social distancing, expanding testing capacity, vaccine finding. Tech entrepreneur and former PayPal executive Max Levchin has argued that it might be time to close the markets for a week or two. If keeping markets open is “a sign of confidence for people,” as Treasury Secretary Steven Mnuchin said last week, the deep plunges in stock prices have to undermine that confidence.

“We don’t want to be doing that,” President Donald Trump said Monday at a White House news briefing, dismissing the need to shut down the New York Stock Exchange or Nasdaq.īut every passing day has made the prospect of a halt in trading seem more urgent.

The Trump administration and regulators have tried to tamp down speculation that trading should be shut down temporarily until the implications of the crisis become clearer, arguing that the markets are functioning as they should amid the regular trading halts, known as “circuit breakers,” sparked by dramatic drops in stock prices.

When does the stock market open