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NYSE to temporarily close floor, move to electronic trading after positive coronavirus tests – CNBC


The New York Stock Exchange reported Wednesday it will briefly close its historic investing flooring and shift absolutely to digital investing immediately after two persons analyzed optimistic for coronavirus an infection at screenings it experienced set up this 7 days.

All-electronic investing will commence on March 23 at the open, the trade said. The services to be closed are the NYSE equities trading ground and NYSE American Possibilities buying and selling ground in New York, and NYSE Arca Solutions investing floor in San Francisco.

The closure was in portion as a outcome of constructive coronavirus exams of two people, Stacey Cunningham, President of the NYSE, advised CNBC. The entrants were being stopped at the health care screenings at the Large Board.

The stock marketplace has closed at times more than the years, this kind of as all through Earth War II and in the wake of 9/eleven, but this is the initial time the physical buying and selling flooring of the Large Board has ever shut independently though digital investing proceeds.

“We implemented a range a variety of safety safety measures over the earlier few of months, and commencing on Monday this 7 days we commenced pre-emptive tests of staff and screening of any one who arrived into the building,” Cunningham reported on “Closing Bell.” “If that screening warranted additional screening, we analyzed people and they were being sent household and not presented obtain to the constructing. A couple of individuals examination situations have come back optimistic.”

“Even though all those men and women were being not in the constructing this 7 days and the making experienced been cleaned and dealt with prior to get started of trading on Monday, I feel it is reflective we are observing factors evolve,” Cunningham additional.

The NYSE is operated by the electronic trading team Intercontinental Trade, which acquired it in 2012. The trade moved into its locale at 18 Wide St. in decreased Manhattan in 1903. As digital trading grew on Wall Avenue, the NYSE adapted, with far more and extra of its buying and selling remaining performed absent from the physical ground.

Nonetheless, the business has preserved in excess of the yrs that the flooring was even now important, specifically at the open and closing of investing, and claimed that it would not be shut even as the quantity of true traders in the spot dwindled. The other significant U.S. inventory trade, Nasdaq, does not have a physical trading ground.

Wall Street has been on an unprecedented volatile journey throughout the coronavirus crisis. Just this week, a current market-large circuit breaker was induced 2 times by the NYSE because of to the large provide-off, ensuing in short investing halts.

On Wednesday, the Dow Jones Industrial Common closed down below 20,000 for the initial time since February 2017. The S&P 500 was now just about 30% below a report established previous thirty day period.

The trade mentioned in a launch that it was utilizing its organization continuity approach and “buying and selling and regulatory oversight of all NYSE-listed securities will proceed without interruption.”

CME Group closed its Chicago buying and selling floor final week in a precautionary go owing to the coronavirus outbreak. 

As of Wednesday, worldwide circumstances of the coronavirus have attained much more than 212,000 and confirmed cases in the U.S. surged to 7,324 in complete,  according to knowledge from Johns Hopkins College. The coronavirus has distribute to all fifty states and D.C., with the demise toll in the U.S. climbing to a hundred and fifteen.

— CNBC’sJesse Poundcontributed to this report.

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