The Philippine Stock Exchange closed yesterday, which resulted...

The Philippine Stock Exchange closed yesterday, which resulted in a 19.5 pct drop in a US listed Philippine stock index ETF. The Philippine Stock Exchange is still a floor based venue, unlike most other exchanges, where they are electronic. The CME closed their floor trading last Friday, but their products still trade on Globex. The NYSE has floor people, for old times sake, but they don't actually do much. If the market got wind of the exchanges closing, we would probably see the red bar from hell. The market does not like it's money being in lock down, just like people don't like being in lock-down.