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The circuit breakers provide for market-wide trading halts during a severe market decline as measured by a single day decrease in the Dow Jones Industrial Average (DJIA). There are three circuit breaker thresholds—10%, 20%, and 30%—set by the markets at point levels that are calculated at the beginning of each quarter. The formulas for these thresholds are set forth in the New York Stock Exchange (NYSE) Rule 80B.
For example, for the fourth quarter of 2010, the Level One (10%) circuit breaker is set at 1,050 points, the Level Two (20%) circuit breaker at 2,100 points, and the Level Three (30%) circuit breaker at 3,150 points.