Tesla’s Terrible Earnings, the FTC’s Noncompete Ban, and 24/7 Trading at the NYSE | Prof G Markets
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Cultural Impact
The potential shift to 24/7 trading at the New York Stock Exchange could profoundly impact Wall Street culture and the work-life balance of traders. notes that the absence of a weekend break might lead to increased stress and burnout among financial workers, as they would have to remain vigilant around the clock 1. This change could also accelerate the use of AI to manage trading activities, as bots could monitor markets continuously, alerting traders only when necessary 1.
The bottom line is this is going to be harder. It's just going to be. I remember I have a close friend of mine worked for a hedge fund and he would have to wake up really early to look at the European markets. It's just like the markets never rest means that a lot of these people are never going to get the rest themselves.
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suggests that this move might be a reaction to the 24/7 trading model of cryptocurrencies and new exchanges like 24 Exchange, which could increase competition 1.
Economic Impact
The economic implications of 24/7 trading are significant, with potential benefits and drawbacks. argues that while continuous trading could increase liquidity and attract more global investors, it might also lead to heightened market volatility and stress for traders 2. He expresses concern over the lack of a cooling-off period, which currently allows traders to process information over the weekend, potentially preventing rash decisions 2.
I just wonder if it creates more volatility when at three in the morning there's some sort of bad news or a strike in Iran and people can go on and start selling like crazy and then people feel like they can't go to sleep or they need alerts on their phone.
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The move towards 24/7 trading is seen as part of the broader trend of financialization, where the focus on constant trading could overshadow the mental well-being of individuals involved in the market 1.
