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Hurricane Sandy Means NY Stock Exchange, Nasdaq Will Be Closed On Monday, Probably Tuesday
By
Jen Chung
Published Oct 28, 2012
Modified Oct 29, 2012
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By
Jen Chung
Published Oct 28, 2012
Modified Oct 29, 2012
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The New York Stock Exchange and NASDAQ have decided not to open for trading tomorrow because of Hurricane Sandy, according to CNBC and Reuters. Reuters Tweeted, "More: Decision to close U.S. stock markets come because of concerns about market integrity - source #breaking"
NYSE had previously said the trading floor was be closed but electronic trading would continue, but now NYSE Euronext says, "The dangerous conditions developing as a result of Hurricane Sandy will make it extremely difficult to ensure the safety of our people and communities, and safety must be our first priority... We support the consensus of the markets and the regulatory community that the dangerous conditions developing as a result of Hurricane Sandy will make it extremely difficult to ensure the safety of our people and communities, and safety must be our first priority."
The NY Times reports, "The N.Y.S.E. last closed trading for weather reasons in 1985, when Hurricane Gloria lashed the metropolitan area. The opening of trading has been delayed a number of times, including during a blizzard in January 1996. The exchange was closed for three days after the terrorist attacks on Sept. 11, 2001." Also: "The Securities Industry and Financial Markets Association, or Sifma, said in an e-mailed statement that it was calling for bond trading, which is all done electronically, to close at noon Monday, though it left the final decision to member firms."
Since NASDAQ won't be open, we guess Facebook employees won't be able to cash out just yet.
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hurricane sandy
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Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
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