Robinhood has suspended its 24-hour buying and selling characteristic in response to elevated market volatility.
The choice itself was most definitely prompted by the truth that monetary analysts say fears of a worldwide recession have elevated following the dramatic $2.9 trillion drop within the worth of inventory markets.
The drop, reported on August 2, 2024, is the most important since March 16, 2020, when the COVID pandemic sparked comparable considerations.
The transfer goals to stabilize buying and selling circumstances and stop extreme danger for traders. Robinhood’s suspension of round the clock buying and selling highlights the continuing challenges in managing market volatility and making certain a balanced buying and selling atmosphere for customers.
This isn’t the primary time the corporate has determined to droop buying and selling actions.
On earlier events, reminiscent of throughout the GameStop inventory quick squeeze in January 2021, the platform took comparable measures.