U.S. stock markets will be closed for a second day straight day. The New York Stock Exchange and the NASDAQ will be closed on Monday and Tuesday due to Hurricane Sandy, which is currently aiming for the East Coast.
NYSE Euronext said it made this decision in consultation with other exchanges and market participants. "NYSE Euronext (NYX) will close its markets in coordination with all U.S. equities, bonds, options and derivatives markets on Tuesday, Oct. 30, 2012," the company said in a statement. "This follows the closure of U.S. markets on Monday, Oct. 28, 2012. We Intend to re-open our U.S. markets on Wednesday, Oct. 31, 2012, conditions permitting."
It said a decision on whether markets would be open Wednesday would be made on Tuesday.
The NYSE had said on Sunday afternoon that it would keep the market open, invoking its contingency plan and trade electronically.
Trading has rarely stopped for weather. The last time the markets closed for two straight days due to weather was 1888, when a blizzard left drifts as high as 40 feet in the streets of New York City. The last time it was closed was after the September 11 attacks.
The NASDAQ also said it made its decision in consultation with several other entities, and that all other NASDAQ OMX exchanges outside the U.S. will be open for business on Monday and Tuesday as scheduled.
With the Associated Press