US stock markets will be closed Monday in response to Hurricane Sandy, according to the latest statements from New York Stock Exchange (NYSE) and Nasdaq Sunday.
Earlier in the day, NYSE Euronext, NYSE’s parent company, announced that electronic trading would remain open and that only the exchange’s trading floor would close, reported Xinhua.
“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 exchange said in the latest announcement.
“We will work with the industry to determine the next steps in restoring trading as soon as the situation permits,” it added.
Nasdaq, the country’s biggest electronic stock market, also said it would close all US equity and derivatives exchanges as well as the Nasdaq/FINRA TRF Monday.
The US markets may also be closed Tuesday, according to the statements from the two exchanges.
Sandy was heading north from the Caribbean, where it has already claimed at least 49 lives, and was expected to hook left toward the mid-Atlantic coast.
It was projected to come ashore early Monday, most likely in New Jersey, colliding with a wintry storm moving in from the west and cold air streaming down from the Arctic, according to the National Hurricane Center.