The fuse mechanism is a mechanism to limit the fluctuation of stock price. Specifically, when the price index drops to a certain extent, trading will be suspended for a period of time, which may be a few minutes, or it may be trading all day. In fact, investors who have had this mechanism for some time should be familiar with it, because we used this mechanism in the bear market after 20 15. However, due to the liquidity and trading system of A-shares, in addition to the trend of down limit of 1,000 shares, there is also a direct punishment mechanism after trading 15 minutes, which fails to achieve the purpose of controlling risks.
Through the explanation of the above fuse mechanism, let's take a look at what the fuse mechanism in the United States is and what the specific provisions are. The fuse mechanism in the United States is divided into trading time and non-trading time, and there are also fuse mechanisms for some stocks.
Trading time is a common decline limit, which is mainly divided into three levels: the first level is 7%; The second level is13%; The third level is 20%. When the market reaches the first and second level, the trading is suspended for 15 minutes, and a horizontal line appears in the time-sharing chart, which is shown in the original picture of this paper. According to the trading hours in the United States, the local time is from 9: 30 pm to 4: 00 pm. If it reaches 3: 25 pm, the trading will not be suspended. Then, the fuse value is reached many times, and it is triggered only once. If it reaches the third level on that day, trading will be suspended all day. When two fuse values are triggered one day, there will be two fuses. At present, this kind of fuse is rare, and it will be blown again on Thursday, which will also reach a drop of nearly 10%.
The fuse of non-trading time in the United States is the restriction of its stock index futures. Once it goes up or down to 5%, the opportunity will trigger a fuse. This week is a history of witnessing history, and Nasdaq futures also triggered the fuse. It shows that the market risk is greater this week.
What is the fuse mechanism in the United States? Everyone here knows very well. In addition to the United States, other countries' stock markets also have fuse mechanisms, which have similar meanings. Brazil's stock market has also experienced a fuse phenomenon, which is a sharp performance of risk. Please pay more attention to our stock test.