>
" Many stocks were shown to have abnormally large moves when the market opened, which may have triggered volatility halts. "
You are not allowed to crash us. Read the fine print. >

A lot of this can be attributed to automatic algorithm based trading l believe. The systems see a pattern and instantly react which caused ripples that other AI trading platforms respond to. And if that causes a spiral, systems will push that spiral in milliseconds where human traders might not.
There have been AI created flash crashes before. >

AI trading is a great argument for a stock transaction tax. >

lol…
Never going to happen. And it would not solve any current issues we face with wall street. 
Why? Several reasons:
The way things are currently set up for individual investors - commission-free trades made possible via payment for order flow (PFOF), a Bernie Madoff invention. (There’s a reason your trades are commission free, and it 100% does not benefit the average person in the long run. Large institutions use those retail trades and trade against them, etc., and pay hundreds of millions of dollars simply to take that stock order flow from brokers…)
Second, so far, the government won’t even ban payment for order flow in the US (it’s banned in most of the rest of the world, for a reason…). 
So the suggestion of a tax on these PFOF trades, assuming they’re also imposed on normal everyday investors, as well as Wall Street- well, that cost will mostly be put onto everyday people already getting screwed by the system itself. 
Now, if this is a specific tax only applicable to institutional trading, high frequency trading, etc., that would be interesting.
However, this cannot happen until our actual market structure is fixed and cleaned up first. There are currently so many loopholes in our market for institutional traders that I presume the IRS would never be able to handle this kind of tax reporting.
Further, the current market has a near complete lack of accountability (a fine is not a punishment, it’s the cost of doing business), not enough SEC enforcement, not enough proper regulation, etc. 
Another good example: If you have been paying attention to the (lack of) implementation of the consolidated audit trail (CAT) system, which was supposed to have been implemented…numerous years ago…you’ll get what I am saying. There is currently quite a lot of self-reporting by institutions, and very little if any oversight. 
Finally, basic things, like the failure to deliver/receive stock after you buy it, would create immense legal complexities around this supposed transaction tax.
There is no way that tax would be enforceable in the current environment. 
Because of the way our system is set up, which allows for the failure to deliver securities you have purchased, and which does NOT include a settlement discipline regime/forced buy-ins of stock that has failed to deliver, this hypothetical transaction tax would be taxing people in many cases on transactions where they paid money but did not receive any shares.
You can begin to see the insane legal complexity of taxing someone on every transaction for something they have paid for, but did not receive…it’s a legal nightmare, for everyone.
Until people understand how little our government has done to stand up and regulate Wall Street, I doubt much will change. >

Sounds like we need to nuke most of our incredibly incestuous and literally removed from reality financial systems. A bunch of email job jerkoffs playing with calculators making up imaginary nega-reverse-hyper-mortgage-security-stock classes of financial products does nothing for anyone except the person who convinces some dumbass that it has value. The system is made to create obfuscation and leech money solely upward to the rulemakers, so don't let people do that. >

Right? Neighbor is jr. analyst at Morgan Stanley and what he sometimes tells me over beers... 
GREED. Plain and simple. Fastest one out and fattest wins. >

Combine this with too big to fail and capitalism eats itself alive.
You know what? Let it, eventually an utter collapse and a few CEOs turning up dead might have a more effective result than whatever the inept government does. >

Someone mentioned billions in options being stolen through these halts, alot of these companies had earnings reports going public also. Gotta give time for algos to recalculate how to protect big money. >

This is what I assume is the case.
The stock market game is highly rigged by monopoly-money. It is basically a money printing money machine. Retial investors always robbed, the top few always win. With enough capital to move entire markets, it is easy to move them to make profits. And that's why I use crypto instead, please don't get upset, and have fun. >

my brother. You were making sense and then you said and that's why I use crypto. Sam bankman Fried thinks you're an idiot >

Crypto is just Tulip Mania all over again >

If anyone is curious what a circuit breaker actually is and what triggers it. >

Somebody was about to lose when they shouldn't have and that's been occurring much more often recently. >

Are you talking about Ken Griffin of citadel who lied under oath? >

He made $16 billion he's a genius!
Just don't pay attention to the $65 billion in securities sold not yet purchased. >

How did they make $16 billion when the majority of other hedge funds lost somewhere in the neighbourhood of $206ish billion in the last year? >

This guy? 
www.kensbitchass.com >

Technically, rich people aren't allowed to lose money. >

Oh THAT technical issue. >

And what happens when 'panic selling' is justified? >

"Many stocks were shown to have abnormally large moves when the market opened"
Interesting & also...
"It is not common for individual stocks to be halted, and it is even less likely for the broader market to be suspended. In fact, the markets have only been halted twice. The first time was on October 27, 2008 during the global financial crisis. At that time the PSE index fell 10.33%. The other occurrence was on March 12, 2020 as a result of uncertainty at the onset of the Covid-19 pandemic."
Source for Q2 >

LU/LD halts happen every single day. >

True, but (and correct me if I'm wrong) they are typically narrower in scope. >

True. It's generally one symbol. Today was definitely not normal. >

"Whoa slow down and let our main investors make money too" >

Many New York Stock Exchange-listed stocks halted for a reason we're not sure of but most likely because shit was about to hit the fan and the market is rigged. FTFY >

Deliberate market manipulation >

I'm sure the stocks halted was just a coincidence. And made some easy billions for one of the big boys just from chance. >

"technical issue" 
NYSE is the longest running fraud >

Can you explain the fraud? >

There are no shares. >

Can’t tell if sarcasm or not. >

Imagine running the stock market off of like 6 different excel spreadsheets and they aren’t even on Live Edit. >

The FBI needs to get involved here. Lots of money was lost/made to this Fake glitch >

Yup. SEC is useless and a farce. We need DOJ and FBI involved. They’re the ones that actually got Madoff in the end. Who’s the next Madoff? I think I have an idea of who that is… >

Biden couldn't get SEC chair in place for some time (Senate approval and it was split, plus two DINOs) and Gensler pleaded for more funds and that fell on deaf ears.
But there is defs a backlog on these.
People just forgot about things like "laws" for a couple years. 😐 >

I found it ironic that the markets have auto crash protection for wealthy trading companies own automated systeks, but egg prices are close to $8 per dozen, or when gas was closing in on $7/gal or higher. Once again rugged individualism for us peasants but market protection for the wealthiest entities. >

Commodities also have circuit breakers. >

Glitches are transitory. >

Hmm more “technical issues” or “glitches”. When the rich lose, they just change the rules or turn off the buy button. Time to dismantle the entire corrupt system >


change the rules

Circuit breakers have been the law since the 1980s. They are not a new thing. >

I didn’t say it was a new thing, was just stating facts >

If I recall correctly, in 19th century England, being in the stock market was viewed with the same derision as gambling. Not that I was actually there, I read it in an old timey thing called a book. >

Holy shit the comments here are so goddamn stupid. >

Walmart spike $10 bucks in a matter of seconds. Was for sure something sketch going on >

Pokémon cards and GameCube games can’t be crushed by algorithms seeking .01% gains >

Crime rampant unchecked crime. PERIOD