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NYSE stock exchange
World exchanges

The NYSE Stock Exchange may stop operating due to coronavirus

12.10.2020
2 min read

What happens if the NYSE stock exchange closes: forecast

The largest stock exchange NYSE was threatened with closure. It’s the coronavirus and the damage it does to the world economy. Rumors about a possible collapse of the trading floor are becoming more realistic every day, and it is possible that the New York Stock Exchange will finish its work in the next few weeks.
The information about the exchange came from a reporter Charles Gasparino, who wrote on his Twitter about problems with traveling to other countries. According to him, some employees are being transferred to remote work.
However, the experts are more optimistic. They claim that no coronavirus cases have been registered in New York, which means that the closure of NYSE is not justified. Although the center in the U.S., which is engaged in disease control, has officially announced a high threat of a pandemic due to the rapid spread of the virus. The first fatal case has already been registered in Washington state.
If the worst-case scenario does occur and the NYSE exchange has to be closed, the world markets will still function. Shares will suffer first of all in this situation – they will start to sell sharply. U.S. stock exchanges have prepared for various developments and have drawn up a plan of action, which will help them to survive the crisis with the minimum possible losses. It should be noted that on all trading platforms, except NYSE, securities transactions are conducted electronically.

NYSE stock exchange

Closing the exchange in New York will also affect the bitcoin, but to a minimum extent. Cryptocurrency is not as closely linked to the traditional economy as standard assets, so there are no sharp fluctuations. However, like the rest of the currency, Bitcoin is afraid of panic, which will occur if the virus spreads across the U.S. and the markets begin to close. In this case, the bitcoin may sink to $7,200 and below, which will have a negative impact on the Stock-to-Flow model.
The US stock markets were closed in 2012. At that time Hurricane Sandy covered the country, and New York saw the strongest wind in 75 years. At that time, the stock exchanges did not work for two days, which, however, did not affect the indicators of the main indices – Dow Jones and S&P 500.
However, it would be wrong to compare the impact of the hurricane and the pandemic. The impact and consequences of the virus have been observed much longer and have spread wider than one geographical plane. It should be understood, however, that a cure for the disease has not yet been released, which means that it is impossible to predict how long an epidemic will last and its magnitude. It remains to hope that the NYSE exchange will continue to operate as usual for a long time.

Tags: World exchanges
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