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The pits

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INSOFAR AS STOCK exchanges used to worry about viruses, it was of the type that infect the computers through which virtually all trading is done. But on March 18th the New York Stock Exchange (NYSE) became the latest venue to announce that its trading floors would close in response to the covid-19 disease, and that trading would become fully electronic from March 23rd. Such closures, amid extreme market volatility, may add to calls that all securities dealings should be suspended in response to the pandemic. But Stacey Cunningham, president of the nyse, was not alone when she insisted that markets should stay open. With the world scrambling for cash, it would be the height of foolishness to shut off access to the capital markets. Some markets have come perilously close to a prolonged shut down. On March 17th the Manila stock exchange was suspended as part of a lockdown on the main Luzon island. But amid fears of a backlash from investors, stock trading has resumed.
机译:INSOFAR AS STOCK交易所过去一直担心病毒,这种类型的病毒感染了几乎完成所有交易的计算机。但是3月18日,纽约证券交易所(NYSE)成为宣布其交易大厅将关闭以应对covid-19疾病的最新场所,并且交易将从3月23日开始完全电子化。在极端的市场动荡中,这种关闭可能会加剧人们的呼吁,即应对大流行而暂停所有证券交易。但是,纽约证券交易所总裁史黛西•坎宁安(Stacey Cunningham)坚持要求市场保持开放并不孤单。随着世界争夺现金,关闭资本市场进入市场将是愚蠢的高度。一些市场危险地接近长期关闭。 3月17日,作为主要吕宋岛封锁的一部分,马尼拉证券交易所暂停营业。但是由于担心投资者的强烈反对,股票交易已经恢复。

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    《The economist》 |2020年第9186期|65-65|共1页
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