Precisely 24 hours ago, in an attempt to pre-empt the panic-selling open, the NYSE invoked the little used Rule 48, which was to be expected: the Nasdaq 100 has just tumbled limit down and the S&P and DJIA would follow shortly. Today, however, it is unclear just why the NYSE decided to once again invoke Rule 48 as futures are set to open about 3-4% higher, and yet that is precisely what the NYSE did.