The securities markets have circuit breakers that will halt trading in all securities for a period of time in the event of a severe market decline. In the event of a decrease in the S&P 500 Index at predefined circuit breaker levels, trading will be temporarily halted at each circuit breaker level once per day.
|Circuit breaker level||S&P 500 Index decline percentage||Market impact|
|1||7%||15 minute trading halt*|
|2||13%||15 minute trading halt*|
|3||20%||Trading halted for all securities until the next trading day|
How Fidelity handles orders during a circuit breaker
Fidelity routes your stock orders to various market centers/exchanges, which may differ in the way they handle orders when a market-wide circuit breaker is in effect. Fidelity will continue to communicate the status of any open trades via the Orders page of your portfolio, although market volatility may impact the timing of these updates.