No it's definitely 5% while the futures are trading.
https://www.fxstreet.com/news/s-p-f...ker-limit-amid-coronavirus-fears-202003120851
It must only stop taking futures orders if it keeps dropping more than 5% which it did a few days ago. If it falls back below 5% which it is now it must continue to trade.
The 7%, 13% and 20% circuit breakers only apply when the US market is open
https://www.cnbc.com/2020/03/09/sp-...at-happens-when-circuit-breakers-kick-in.html
