Order type is a risk choice. Here is how to think about fills when spreads explode.
What you are really buying
A market order buys certainty of (attempted) fill at an uncertain price. A limit order buys price control at the risk of no fill. Neither is morally superior; each fails differently under stress.
When spreads widen
Around data, the displayed mid can look fine while the executable bid–ask is a canyon. Market orders can fill far from the last print. Limits may never trade. Decide which failure you prefer before the release.
Practical hybrids
Some traders use limits to enter and markets only to exit emergencies — or the reverse for breakout plans. Write the hybrid down. Improvising order types mid-spike is how journals fill with excuses.
Platform quirks
Stop orders may become market orders when triggered; partial fills and requotes differ by venue. Test your broker’s behaviour on demo during a live news event once, deliberately, with tiny size.