The Nasdaq has now dropped by 5.73%, continuing to decline without any rebound...

The circuit breaker mechanism for U.S. stocks is divided into three levels, with specific rules as follows:

If the index drops by 7%, the first circuit breaker is triggered, and trading is paused for 15 minutes.

If the index drops by 13%, the second circuit breaker is triggered, and trading is paused again for 15 minutes.

If the index drops by 20%, the third circuit breaker is triggered, and the market will directly close for the day. This means that as long as the index drops by 20% between 9:30 AM and 4:30 PM Eastern Time, trading will be completely halted for that day.