New York Stock Exchange to shut trading floor amid coronavirus outbreak

New York stock exchange on March 18 anunced that it will be shutting down from trading floor as a ‘precautionary’ measure against coronavirus. However, electronic trading will continue. floor will close from March 23, as it provides a few days to prepare for transition to fully electronic trading.

Employee tested positive

According to reports, decision to close trading floor comes after a member of trading floor community and an employee of stock exchange tested positive for coronavirus on March 16. Both individuals had last entered stock exchange on March 16 and very next day stock exchange was sanitized.

According to reports, trading officials have vehemently argued against closing down trading activities entirely and have claimed that this move will t affect market’s ability to function. Over stock market has closed at times, it had closed during World War II and in wake of 9/11. But this will be first time that trading floor will be shut independently while electronic trading continues.

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As per reports, Stacey Cunningham, President of NYSE has said that stock exchange had implemented a number of pre-emptive measures such as testing employees and screening of all those entering building. Cunningham added that if screenings warranted additional testing n people were tested furr and sent home, y were reportedly t allowed access to building. A few of tests NYSE preformed came back positive.

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vel coronavirus, also kwn as COVID-19, has claimed more than 8,960 lives across world and has infected over 2,19,332 people globally since it first broke out in December 2019. China is most affected country in world as experts believe that virus originated from a seafood market in Wuhan city, epicentre of disease, where animals were reportedly being traded illegally. Italy and Iran are or countries that are most affected by virus outbreak.