25 October 2016
Visit www.dh.com

US stock markets shuttered as Hurricane Sandy approaches

29 October 2012  |  4417 views  |  1 NYSE 1

American stock exchanges are shutting down today, and provisionally tomorrow, as a precaution ahead of hurricane Sandy's arrival on the east coast.

Over the weekend exchanges and regulators took the decision not to open the equity market as Sandy - which has already killed dozens of people on its way through the Caribbean - prepares to hit New York.


Initially, the New York Stock Exchange had planned to suspend physical trading floor operations and move everything to its electronic platform, Arca, following a contingency plan tested in March.


However, there has since been a change of heart as the storm barrels down on the US, and everything will be shut down. Nasdaq, Bats and Direct Edge will also close.


John Nester, spokesman, SEC, says: "The US equity markets will not be open Monday because of the impending storm. The decision was made by the markets and market participants after careful consideration in consultation with the SEC."


According to the BBC, this is the first time since 1985 - and Hurricane Gloria - that stock markets have closed for a full day due to weather.


Meanwhile, with New York's public transportation networks also suspended, Wall Street firms, including Goldman Sachs and Citi, are telling employees not to come into work today.

Comments: (1)

A Finextra member
A Finextra member | 29 October, 2012, 17:23

Lets hope this storm blows through and everyone is safe. Puts everything into perspective 

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

US exchanges prepare for Hurricane Irene

US exchanges prepare for Hurricane Irene

26 August 2011  |  5588 views  |  0 comments

Related company news


Related company information

Goldman Sachs

Related blogs

Create a blog about this story (membership required)
Visit www.i2cinc.comFind out more

Top topics

Most viewed Most shared
Visa treads on Swift's toes with blockchain pilot for high value paymentsVisa treads on Swift's toes with blockchai...
8662 views comments | 33 tweets | 38 linkedin
Monzo raises £4.8mMonzo raises £4.8m
8503 views comments
Visa tells Europe to be ready for 3-D Secure 2.0 by April 2018Visa tells Europe to be ready for 3-D Secu...
7752 views comments | 12 tweets | 27 linkedin
The payments cake is growingThe payments cake is growing
7425 views comments | 6 tweets | 11 linkedin
CBA and Wells Fargo combine blockchain and IoT to revolutionise trade financeCBA and Wells Fargo combine blockchain and...
7397 views comments | 25 tweets | 26 linkedin

Featured job

Senior Level Salary plus Car Allowance + Benefits...

Find your next job