The Trump administration plans to keep U.S. stock markets open despite volatility, though trading hours may be shortened, Treasury Secretary Steven Mnuchin said.
“We absolutely believe in keeping the markets open,” Mnuchin said at a Tuesday news conference at the White House. “Americans need to know they have access to their money.”
Mnuchin said he has spoken to banks and the New York Stock Exchange, and they agree on the need to keep markets operating.
Wild swings in equity markets and thousands in the financial industry working from home have led to questions about whether stock exchanges should remain open. But top regulators and executives of exchange firms have come out in favour of keeping markets open.
U.S. indexes climbed on Tuesday, a day after declines triggered circuit breakers that halted trading before the major indexes plunged to their biggest drop since 1987.
Jim Toes, chief executive officer of the