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BlackRock Calls for Halting Stock Market to Avoid Volatility

  • U.S. market would stop if significant number of shares halted
  • Biggest asset manager seeks to soothe nerves frayed by Aug. 24
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BlackRock Inc., the world’s biggest asset manager, has its own remedy for days of extraordinary volatility in the U.S. equity market: Shut it down.

Among the fund company’s suggestions: The entire $23 trillion market should automatically come to a halt if a certain number of shares stop trading, giving traders time to regroup on a wild day, according to BlackRock. Tweaking the rules on halts and making all stock openings electronic are among other ideas in a paper published Wednesday by the firm.