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The Race That Stops a Nation Trading (as Much)

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Photographer: Michael Dodge/Getty Images

Does the Melbourne Cup really stop the nation? Well, it certainly stops some trading. On the day of Australia’s most famous horse race, which has taken place since 1861, volumes for Australian equities sink to levels roughly 30 percent lower than their November average. Tuesday should be no different with Melbourne residents enjoying a public holiday and Sydney traders’ eyes glued to TVs in bars across the city to see who will claim prize money that topped $4.5 million last year.