The New York Stock Exchange is preparing to close its trading floor as coronavirus sweeps through New York
The escalating coronavirus outbreak in New York could prompt the New York Stock Exchange to close its trading floor.
The move arrives as the coronavirus pandemic sweeps through the state, prompting work-from-home orders and"social distancing" measures to curb contagion. The NYSE's plan would shift its human-electronic broker hybrid to a backup electronic system that has been tested over weekends but not in a trading session,The system would likely face sharp volatility should the NYSE's contingency go into effect.
All initial public offerings scheduled at the NYSE would also be postponed until the floor reopens, the exchange said. The exchange is owned byThe Big Board already limited the number of outside visitors and instituted additional cleanings this week to reduce the risk of spreading the virus and its related disease, COVID-19. Even if the trading floor is closed off, market activity will continue as planned, a NYSE spokesperson told Markets Insider.
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