NYSE to temporarily close trading floor | Calamatta Cuschieri

The Maltese market closed in red on Wednesday, with the MSE total index ending the session 2.25% lower to 8055.672 points. The best and only one performer in the green was BMIT Technologies plc, by adding 1.63% to close at 0.50 while the biggest fall was seen from Santumas Shareholdings plc with 9.33% drop to close at 1.36, followed by 8.16% slid Malta International Airport plc with closing price of 4.50. Bank of Valletta plc and HSBC Bank Malta plc shed 5% and 5.21% to close at 0.95 and 0.91 respectively.

European stocks succumbed to heavy selling pressure again as some observers fretted that a proposed US stimulus package might fall short, even while keeping an eye trained on longer-term government bond yields and the price of oil slid again. By the end of trading, the benchmark Stoxx 600 was 3.92% lower at 279.66, alongside a 5.56% drop on the German Dax Xetra to 8,441.71, while the FTSE Mibtel was down 1.27% at 15,120.48.

U.S. stocks finished sharply lower again Wednesday, but off session lows after Congress passed the first of two planned bills providing some relief from the economic damage the coronavirus pandemic is inflicting on businesses and consumers. The Dow Jones Industrial Average tumbled 6.3%, to settle at 19,898.92, its lowest close since Feb. 2, 2017. The S&P 500 dropped 5.2%, to end at 2,398.10. The Nasdaq Composite slipped 4.7%, to finish at 6,989.84.

NYSE to temporarily close trading floor in favor of electronic trading after positive coronavirus tests

The New York Stock Exchange said Wednesday it will temporarily close its trading floor and move to electronic trading after two people tested positive for coronavirus. The two people tested positive at medical screenings that the NYSE had set up this week. The entrants were stopped at the medical screenings at the exchange.

This marks the first time the NYSE trading floor has shuttered independently as electronic trading continued. All electronic trading will begin on Monday, March 23.

All NYSE markets will continue to operate under normal trading hours despite the closure of the trading floors.

The facilities to be closed include the NYSE equities trading floor in New York, NYSE American Options trading floor in New York and NYSE Arca Options trading floor in San Francisco.

This article was issued by Nadiia Grech, Junior Trader at Calamatta Cuschieri. For more information visit, www.cc.com.mt. The information, view and opinions provided in this article are being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Calamatta Cuschieri Investment Services Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website.