Level 1:A drop of 7% from the prior day's closing price of the S&P 500 triggers a 15-minute trading halt. Trading is not halted if the drop occurs at or after 3:25 p.m. ET.
Level 2:A drop of 13% triggers a 15-minute halt. Trading is not halted if the drop occurs at or after 3:25 p.m. ET.
Level 3:A drop of 20% triggers a halt for the rest of the trading day, and trading resumes the following day.
