S&P 500 Price Limit provisions during U.S. Trading Hours
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From 8:30 a.m. to 2:25 p.m. CT, there are successive price limits corresponding to 7%, 13%, and 20% declines below the previous trading day’s reference price.
Level 1 7% decline
Level 2 13% decline
Level 3 20% decline
http://www.cmegroup.com/trading/equity-index/faq-sp-500-price-limits.html
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