The unthinkable: Is it time to shut down the stock market?

"Maybe close a day or two," Sen. Joe Manchin said on MSNBC on Thursday, raising concerns about so-called short-sellers — those who bet on stocks to fall — taking advantage of the declining market. "It's not an industry that we have to have.

Tech entrepreneur and former PayPal executive Max Levchin has argued that it might be time to close the markets for a week or two. Yet with cases of the virus spreading, the NYSE this week is operating without its signature trading floor and moved to fully electronic trading. Human judgment combined with the latest technology results in reduced volatility and tighter spreads.The possibility of a market closure underscores the grave outlook for the global economy and the almost complete lack of knowledge of how bad things can get.

But even though much of the market can function without traders on a physical trading floor or even in the office, the prospect of the job being done remotely has also raised concerns.

Yes!

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market live updates: Dow futures down 400, waiting on Congress, 'limit down' againStocks pointed to declines on Monday as investors await a stimulus package from the coronavirus. That's because the democrats won't make a decision to pass a bill to help the economy, they will be the reason we fall into a great depression, there are so many out here already around where I live that have lost there jobs due to all this, and now we are getting false hopes. Misleading headline.
Source: CNBC - 🏆 12. / 72 Read more »

Five Ways that COVID-19 Has Rocked the Food IndustryAs COVID-19 spreads and cities shut down, the food system is taking a massive hit. That looks like Whole Foods
Source: SAVEURMAG - 🏆 115. / 63 Read more »