March 9, 2020 / 2:10 PM / a month ago

U.S. stock market circuit breakers working as expected - NYSE president

NEW YORK, March 9 (Reuters) - Safeguards in the U.S. stock market are functioning as planned, the president of the New York Stock Exchange said on Monday, after a 7% decline in the S&P 500 triggered a 15 minute trading pause shortly after the market opened.

"The market-wide circuit breakers are designed to slow trading down for a few minutes to give investors the ability to understand what's happening in the market," Stacey Cunningham, president of Intercontinental Exchange Inc's NYSE, told CNBC.

Reporting by John McCrank Editing by Chizu Nomiyama

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