In the wake of the equity (and crypto) market meltdown on Monday, leading US neobroker Robinhood (NASDAQ:HOOD) has announced that its Robinhood 24-hour overnight trading facility would not be available from Monday (August 5) into Tuesday (August 6).
Monday saw a more than 1,000 point (2.6%) drop in the Dow Jones Industrial Average, with even larger declines in the broader equity index S&P 500 (-3.0%) and tech-heavy NASDAQ (-3.4%), alongside double digit percent declines in leading crypto Bitcoin and Ether prices.
In a statement released on X (formerly Twitter), Robinhood stated:
Robinhood 24 Hour Market’s execution venue, Blue Ocean ATS (BOATs), has suspended overnight trading for tonight. 24 Hour Market orders that are open as of approx. 8 PM ET will be routed for execution starting at approx. 4 AM ET tomorrow. You may cancel your order at any time, and can still place an order for another trading session.
