Equity trading in U.S. to shut for 2nd day
Posted: October 29, 2012 at 11:20 a.m.
Updated: October 29, 2012 at 12:33 p.m.
The floor of the New York Stock Exchange is empty of traders, Monday, Oct. 29, 2012, in New York. All major U.S. stock and options exchanges will remain closed Monday and Tuesday with Hurricane Sandy nearing landfall on the East Coast.
NEW YORK — U.S. stock trading was canceled for a second day, joining bond markets, as 85 mph winds and surging seas from Hurricane Sandy bore down on New York and paralyzed American capital markets.
The shutdown was announced by NYSE Euronext in a statement. Earlier, the Securities Industry and Financial Markets Association recommended a full market close Tuesday in dollar-denominated fixed-income securities after they shut at 11 a.m. CDT Monday.
Risks posed by Sandy, expected to come ashore late Monday in southern New Jersey and potentially affect 60 million people, froze travel and spurred evacuations.
Thousands of securities industry employees stayed home as the Atlantic’s largest-ever tropical storms threatened to flood lower Manhattan, home to much of the borough’s electrical infrastructure.
Tuesday will mark the first time since an 1888 blizzard that weather caused a two-day shutdown of the exchange.
Read tomorrow's Arkansas Democrat-Gazette for full details.
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