<html><base href="http://biz.yahoo.com/"><title>Yahoo - ADVISORY - NYSE circuit breaker levels</title><center><table cellpadding=2 cellspacing=0 width="100%"><tr><td width="1%"><a href="http://quote.yahoo.com/?u"><img src="http://us.yimg.com/i/fi/main4.gif" border=0 width=281 height=31 alt="Yahoo! Finance"></a></td><td nowrap><font face=arial size=-1><a href="http://quote.yahoo.com/?u">Home</a> - <a href="http://www.yahoo.com/">Yahoo!</a> - <a href="/f/bn.html">Help</a></font><br><hr size=0 noshade></td><td width="1%"><a href="http://www.online.reuters.com"><img src="http://us.yimg.com/i/dn/reuters4.gif" border=0 alt=Reuters width=140 height=21></a></td></tr></table><p><a href="http://www.yahoo.com/M=B1049.136755.1380641.7811756/D=finance/S=7811756:N/A=92358/*http://adfinity2.247media.com/?adlink|2|519|1|1|247MEDIA" target="_top"><img width=468 height=60 src="http://adfinity2.247media.com/?adserv|2|519|1|1|247MEDIA" alt="Click Here" border=0></a><p>[ <a href="http://www.yahoo.com/headlines/business/">Business</a> | <a href="/reports/stocks.html">US Market</a> | <a href="/industry/">By Industry</a> | <a href="/reports/ipo.html">IPO</a> | <a href="/apf/">AP</a> | <a href="/snp/">S&P</a> | <a href="/reports/world.html">International</a> | <a href="/prnews/">PRNews</a> | <a href="/bw/">BizWire</a> ]</center><p><hr><table align=right border=2 cellpadding=2 cellspacing=0 hspace=5 vspace=5 bgcolor="#dcdcdc"><tr><td valign=top align=center width=180><a href="http://www.yahoo.com/M=16538.151686.1325366/D=finance/S=7811756:E/A=86103/?http://www.etrade.com/preview/yahoo/" target="_top"><img width=170 height=40 src="http://us.yimg.com/a/et/etrade/etrd8bb6.gif" alt="I want in on the next exciting IPO. Click Here." border=0></a><table border=0 cellspacing=0 width="100%"><tr><td colspan=4 width="100%"><table border=0 cellpadding=2 cellspacing=0 width="100%"><tr><td width="100%"><a href="http://quote.yahoo.com/q?s=%5edji+%5eixic+%5espx+%5eiix+%5epse+&d=v1&format=snlcvi"><b><font face=arial>Related Quotes</font></b></a></td><td align=right></td></tr></table></td></tr><tr><td valign=top width="40%"><nobr><small><a href="http://quote.yahoo.com/q?s=^DJI&d=t">^DJI</a><br><a href="http://quote.yahoo.com/q?s=^IXIC&d=t">^IXIC</a><br><a href="http://quote.yahoo.com/q?s=^SPX&d=t">^SPX</a><br><a href="http://quote.yahoo.com/q?s=^IIX&d=t">^IIX</a><br><a href="http://quote.yahoo.com/q?s=^PSE&d=t">^PSE</a><br></small></nobr></td><td align=right valign=top width="30%"><nobr><small>8308.37<br>1701.38<br>1053.95<br>374.82<br>321.83<br></small></nobr></td><td align=right valign=top width="30%"><nobr><small><font color="#ff0020">-214.98</font><br><font color="#ff0020">-66.75</font><br><font color="#ff0020">-30.24</font><br><font color="#ff0020">-14.61</font><br><font color="#ff0020">-13.58</font><br></small></nobr></td></tr><tr><td colspan=4><small>delayed 20 mins - <a href="http://my.yahoo.com/fin_disclaimer.html">disclaimer</a></small></td></tr></table></table><b>Thursday August 27, 1:10 pm <small>Eastern Time</small></b><h2>ADVISORY - NYSE circuit breaker levels</h2>  NEW YORK, Aug 27 (Reuters) - It would take a drop of at least 900 points, or roughly 10 percent, in the Dow Jones Industrial Average for the newly-widened circuit breaker trading halts to kick in.<p>The halts were first proposed by the Brady Commission after the 1987 stock market crash. At the time, the curbs were put at 250 points and 400 points. They were widened to 350 points and 550 points early in 1997 and were then greatly expanded in April 1998.<p>The rules are referred to as ``circuit breakers'' because they gradually inhibit trading during market declines, first curbing New York Stock Exchange program trades and eventually halting all U.S. equity, options and futures activity.<p>The old halts were triggered only once, on October 27, 1997, when the Dow slid 554 points or 7.2 percent.<p>After the October experience, many market participants complained that the halts may have worsened the sell-off by acting like a magnet for selling, and called for a widening of the trigger points.<p>Under the new rules, point levels are set quarterly at 10 percent, 20 percent and 30 percent in the Dow Jones industrial average. levels are readjusted every quarter, using the Dow's closing value of the previous month rounded to the nearest 50 points.<p>The new levels are readjusted December 30, March 30, June 30 and September 30, and go into effect the next trading day.<p>Under the latest figures, for trading during the third quarter of 1998, it would take a 900-point decline in the Dow drop to halt trading for one hour if the decline occurs before 1400 EDT.<p>Trading would be halted for 30 minutes if the drop happens between 1400 and 1430 EDT. There will be no effect if the 850-point drop occurs between 1430 and 1600 EDT.<p>A 1,750-point drop will halt trading for two hours if the sell-off occurs before 1300 EDT; for one hour if before 1400 EDT, and for the rest of the day if between 1400 and 1600 EDT.<p>A 2,650-point drop will halt trading for the remainder of the day, regardless of when the decline occurs.<p>The Chicago Mercantile Exchange and the Chicago Board of Trade also revised circuit breakers for stock-index futures.  <p><hr align=left width="33%" noshade><table border=0 cellpadding=0><tr valign=top><td colspan=3><b>Related News Categories:</b> <a href="/reports/stocks.html">US Market News</a></td></tr></table><hr align=left width="33%" noshade><center><form method=get action="http://search.news.yahoo.com/search/news"><input size=24 name=p> <input type=submit value="Search News"><input type=hidden name=n value=10> <a href="http://www.yahoo.com/docs/info/news_search_help.html"><small>Help</small></a></form><hr><small>Copyright © 1998 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon<br>See our <a href="http://www.yahoo.com/docs/info/gen_disclaimer.html">Important Disclaimers and Legal Information</a>.<br><a href="/f/bn.html">Questions or Comments?</a></small></center>  </html>