Coronavirus - US futures trade reopens for the week, ES and oil both down hard

ES has hit limit down already at 2174

I posted this a couple of weeks back, reposting now ICYMI:

Limit down means the contract is not allowed to move down more than 5% in overnight

• that is, there can be no trades lower until 9:30 am NY time
• trade above the lower limit is permitted
• that is price can trade up, just not any further down

• 5% up-and-down limits
• effective 5:00 p.m. - 8:30 am CT, Sundays through Fridays

Let me add for clarity, the ES market is NOT closed when it hits a limit. Right now its limit down at 2174. IF buyers emerge and begin taking offers it can trade higher at any time (up to 5% limit up move … which is of academic interest only at this point).