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12.03.2020

CME closes its trading floor amid coronavirus worries

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The Chicago-based exchange highlighted that no coronavirus cases have been reported at the Chicago Board of Trade trading floor

Stocks impacted: CME Group Inc. (CME)

CME Group would be the first major U.S. exchange to close a trading floor due to concerns over the coronavirus outbreak. The closing will take effect Friday “at the close of business,” reported the company. According to the officials, the Chicago headquarters will remain open, but the reopening of the trading floor will be evaluated as more medical guidance on the coronavirus becomes available. Trading of the company’s futures products will continue electronically. This case may be a sign that other exchanges will follow suit. By the way, the New York Stock Exchange is taking some precautionary measures as well. Earlier, several companies advised employees to work from home in an effort to prevent contagion from the virus. CME Group stocks closed nearly 6% lower on Wednesday and will likely continue to suffer losses today.

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