Position taken by Standard on tragic event? (4-4)

I believe the answer is:
half-mast
'position' is the definition.
(I have seen 'position of respect' mean 'half mast' so perhaps 'position' could also mean 'half mast')
I don't understand how the rest of the clue works.
Can you help me to learn more?
(Other definitions for half-mast that I've seen before include "Flags are flown thus for mourning" , "Position of flag to mark mourning" , "Position of flag during time of mourning" , "Position of flag to show mourning" , "Where flag is flown to denote mourning" .)
