Is NYSE torn between safety and symbolism?
When does safety supersede symbolism?
In the case of the New York Stock Exchange, it may be as early as this week following another emergency rate cut by the Federal Reserve on Sunday to combat the financial fallout from the coronavirus crisis.
While FOX Business has been told by the exchange’s media relations department as recently as Sunday afternoon that the famed floor in lower Manhattan will open tomorrow, one-floor trader who preferred to remain anonymous but has worked at the NYSE for more than two decades says, “(The Wall Street trading floor) may be federally ordered to close. The situation is changing day by day, hour by hour.”
Another floor trader said his sources indicate a more pointed possibility. “There’s an 80 percent chance that Tuesday or Wednesday it will be mandatory that the floor shuts down.”
“There’s an 80 percent chance that Tuesday or Wednesday it will be mandatory that the floor shuts down.”