Looks like they've staged a reenactment in the stock-index futures market.
Bloomberg, 45 minutes ago:
Trading in S&P 500 futures expiring in December on the Chicago Mercantile Exchange has been limited to stop the contracts from falling below 855.20, the exchange said.6:57AM Edit: The Dow futures just hit its limit down:
Trading below that level will resume when U.S. exchanges open for regular trading at 9:30 a.m. New York time, said Jeremy Hughes, a London-based spokesman for the CME.
Trading in futures on the Standard & Poor's 500 Index and the Dow Jones Industrial Average has been limited after declines in the contracts of more than 6 percent triggered a so-called limit down restriction.(http://www.bloomberg.com/apps/news?pid=20601103&sid=aZRWfr8j_IXc&refer=us)
Dow Average futures won't trade below the 8,224 level.
8:35AM Edit: The NASDAQ didn't want to be left out. From http://www.bizjournals.com/washington/stories/2008/10/20/daily86.html:
Market officials said the 6 percent limit down trading curb would not allow the contracts to decline further until the Wall Street opening at 9:30 a.m. Nasdaq 100 futures reached their limit down of 84.75 points, or 6.8 percent, to 1168.50 at 6:55 a.m.Who knows, maybe after everyone's had a chance to reflect, we'll have a bounce at market open. That's the way it's supposed to work, right?