Stock Markets Close in Tribute
Both the New York Stock Exchange (NYSE) and the Nasdaq are closed today to honor former President Jimmy Carter, who passed away on December 29 at the age of 100.
- The closures align with a tradition of mourning presidents, a practice dating back to 1865 when the NYSE shuttered after President Abraham Lincoln’s assassination.
- The last market closure for this purpose occurred in 2018, following the death of President George H.W. Bush.
Lynn Martin, NYSE President, commended Carter’s “lifetime of service to our nation” in announcing the closure. Nasdaq President Tal Cohen echoed this sentiment, highlighting the decision as a collective tribute to Carter’s legacy.
A Rare Mid-Week Trading Halt
It’s unusual for stock markets to close during the middle of the week.
- Unlike unplanned closures for events like the September 11th attacks or Hurricane Sandy, today’s halt was anticipated, allowing the financial industry time to prepare.
- Bond markets will remain open until 2 p.m. today, per a recommendation from the Securities Industry and Financial Markets Association (SIFMA).
Jimmy Carter: A Legacy Remembered
Jimmy Carter, the 39th president of the United States, is celebrated not only for his time in office but also for his extensive humanitarian work post-presidency. His state funeral in Washington today marks a moment of reflection for the nation, with Wall Street joining in respect and mourning.
Conclusion
The rare mid-week trading closure underscores Wall Street’s enduring tradition of pausing to honor U.S. presidents who have passed. Today’s halt provides a moment for the financial world to reflect on the legacy of Jimmy Carter, whose impact extended far beyond his presidency.
