When markets become extremely volatile, a market-wide circuit breaker can pause trading across all U.S. exchanges and venues.
During these halts, all buying and selling is temporarily suspended. Any orders you place will be queued for execution once trading resumes.
What triggers a market-wide halt?
Halts are triggered when the S&P 500 moves sharply up or down from the previous day’s close. There are three circuit breaker levels based on the percentage change:
Level 1: ±7%
Level 2: ±13%
Level 3: ±20%
When can circuit breakers be triggered?
Level 1 and 2 halts can occur between 9:30am and 3:25pm ET, pausing trading for at least 15 minutes
Level 3 halts can occur at any time and suspend trading for the rest of the day
What happens to my orders during a halt?
You can still use Stake to place orders, but they won’t execute until trading resumes. Execution – full or partial – isn’t guaranteed.
All non-executed orders will stay in a pending state until they’re filled, cancelled or expired. You can cancel any pending orders during the halt if needed.
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