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NYSE Temporarily Closed Floor and Then Moved to Electronic Trading After Positive Wuhan Virus Tests

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On Wednesday, March 18, 2020, announced that it will temporarily close its world famous trading floor and transition towards electronic trading after two people tested positive for the Wuhan virus at screenings it held this week.

According to the exchange, all-electronic trading will commence on March 23. The facilities that will be closing are the NYSE equities trading floor and NYSE American Options trading floor in New York. Additionally, the NYSE Arca Options trading floor in San Francisco will be closing.

These closures were spurred by positive Wuhan virus tests of two people, according to an account Stacey Cunningham, President of the NYSE, related to CNBC.

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The stock market has a history of closures, during events such as World War II and in the aftermath of 9/11, but this is the first time the physical trading floor of the Big Board has shut down independently as electronic trading proceeds.

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“We implemented a number a number of safety precautions over the past couple of weeks, and starting on Monday this week we started pre-emptive testing of employees and screening of anyone who came into the building,” Cunningham announced on “Closing Bell.” “If that screening warranted additional testing, we tested people and they were sent home and not given access to the building. A couple of those test cases have come back positive.”

“While those people were not in the building this week and the building had been cleaned and addressed prior to start of trading on Monday, I think it’s reflective we’re seeing things evolve,” Cunningham continued.

Wall Street has experienced considerable volatility during the Wuhan virus crisis. Earlier this week, a market-wide circuit breaker was set off twice by the NYSE due to the massive sell-off, which generated brief pauses in trading.

On Wednesday, the Dow Jones Industrial Average ended the day under 20,000 for the first time since February 2017. This week, the  S&P 500 fell nearly 30% under a record set last month.

The exchange announced in a release that it was carrying out its business continuity plan and “trading and regulatory oversight of all NYSE-listed securities will continue without interruption.”

CME Group closed its Chicago trading floor last week as a precautionary measure due to the Wuhan virus outbreak.

As of Wednesday, the number of cases of the Wuhan virus reached over 212,000 and the confirmed cases in America are now at 7,324, per reports from John Hopkins University. So far, 115 people have died from the virus in the U.S.

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Black Rifle Coffee Does Not Support Second Amendment Hero Kyle Rittenhouse

At this Time, Cons

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Black Rifle Coffee, a coffee company based in Salt Lake City, is not defending 17-year-old Kyle Rittenhouse.

The company said that it was against a tweet that Blaze Media reporter, Elijah Schaeffer,  posted that featured Rittenhouse wearing a Black Rifle Coffee Company shirt captioned “Kyle Rittenhouse drinks the best coffee in America.” Rittenhouse was released on November 20, 2020 after supporters were able to raise $2 million for his bail. 

In the tweet, Schaeffer posted a discount code for the coffee. Sara Tabin of The Salt Lake Tribune noted that online Twitter users “questioned whether the coffee company had a sponsorship deal with Rittenhouse and accused it of supporting murder and hate.”

This prompted Black Rifle Coffee, the sponsor of the Slightly Offens*ve podcast, to release a statement on November 21 declaring that it is not sponsoring or supporting Rittenhouse.

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Initially, there was a misunderstanding about the company withdrawing its sponsorship of Slightly Offens*ve. However, a spokesperson for the company told the Salt Lake Tribune on November 21 that “We are not fluctuating our ad spend.” The coffee spokesperson added “We did have a conversation with Schaffer, and he understands that the post was a mistake.”

She stressed, “We don’t traffic in national tragedy and to us, that’s what this is. We are not legal experts or members of law enforcement. We fully support all law enforcement officials and believe in the integrity of the legal system.”

The spokesperson reiterated that the company will maintain its sponsorship of Blaze Media. She explained: “Our concern is that use of the discount code in the post did not reflect our values. That’s a concern we’ve addressed with the journalist and that he understands.”

Blaze employees “make decisions about how to allocate ad dollars within the Blaze,” she remarked. Although the spokesperson did not go into further detail about the company’s status as a podcast sponsor, it noted that the coffee company and the Blaze are in talks about “how to move forward with the allocation of ad dollars.”

Black Rifle Coffee positions itself as a pro-Second Amendment, conservative company that was founded by veterans. Black Rifle Coffee co-founder Evan Hafer released a statement on November 21 declaring that “We do not support legal advocacy efforts. We do not sponsor nor do we have a relationship with the 17-year-old facing charges in Kenosha, WI.”

At the moment, Rittenhouse is facing two counts of first-degree murder for shooting and killing Joseph Rosenbaum and Anthony Huber during a Black Lives Matter riot back in August. In addition, he’s being charged with one count of being a minor in possession of a firearm. During the riots, Rittenhouse was attacked by Rosenbaum. Rittenhouse was carrying an AR-style rifle as he was walking down the street to protect private property from looters.

It is disappointing to see supposedly pro-Second Amendment businesses fold to the mob. Although the Left is very effective at mass politics and causing certain businesses to get cancelled, some businesses will have to take a stand. Submission to these radicals only encourages them to become bolder in their attacks. 

Can Americans actually grow a spine for once?

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