US Equity Market Circuit Breakers

E-mini S&P 500 Futures (ESM5) (5110.25 reference)

• Level 1 = 4755.25 (7% decline) 15-minute halt.


• Level 2 = 4450.75 (13% decline) 15-minute halt. Trading is not halted if after 15:25ET/20:25BST


• Level 3 = 4095.50 (20% decline) Trading halted for the remainder of the day.

E-mini Nasdaq-100 Futures (NQM5) (17539.00 reference)

• Level 1 = 16321.25 (7% decline) 15-minute halt.


• Level 2 = 15277.50 (13% decline) 15-minute halt. Trading is not halted if after 15:25ET/20:25BST


• Level 3 = 14059.50 (20% decline) Trading halted for the remainder of the day.

E-mini Russell 2000 Index Futures (RTYM5) (1839.30 reference)

• Level 1 = 1711.50 (7% decline) 15-minute halt.


• Level 2 = 1601.80 (13% decline) 15-minute halt. Trading is not halted if after 15:25ET/20:25BST


• Level 3 = 1473.90 (20% decline) Trading halted for the remainder of the day.

E-mini Dow Jones Industrial Average Index Futures (YMM5) (38529 reference)

• Level 1 = 35847 (7% decline) 15-minute halt.


• Level 2 = 33549 (13% decline) 15-minute halt. Trading is not halted if after 15:25ET/20:25BST


• Level 3 = 30867 (20% decline) Trading halted for the remainder of the day.

Analysis details (08:20)

• 7%, 13%, and 20% price limits are applied to the futures fixing price and are effective from 8:30 a.m. CT – 2:25 p.m. CT. Mondays through Fridays. From 2:25 p.m. to 3:00 p.m. CT, only the 20% price limit will be applied to the futures price fixing.


• 7% up-and-down limits are effective 5:00 p.m. - 8:30 a.m. CT. Sundays through Fridays; and 3:00 p.m. - 4:00 p.m. CT, Mondays through Fridays. Between 3:00 p.m. - 4:00 p.m. the 7% price limit will not be allowed to breach the 20% daily limit.


• The fixing price is the volume weighted average price, VWAP, calculated during the 30 seconds of trading from 2:59:30 p.m. – 3:00:00 p.m.

07 Apr 2025 - 08:20- Important- Source: CME