On January 9, the New York Stock Exchange will observe a national day of mourning for former President Jimmy Carter by closing its doors.
In observance of the president’s death, the NYSE usually closes trade. George Herbert Walker Bush’s passing in December 2018 was the most recent instance of this.
On that day, the Nasdaq will likewise close for trade. The Securities Industry and Financial Markets Association has recommended that the bond market close early at 2:00 p.m. ET.
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Carter, the 39th president of the country, passed away on Sunday at the age of 100. He was well-known for his humanitarian and peacekeeping efforts after leaving office.
On Sunday, President Joe Biden said that the country would observe January 9 as a day of mourning. That day, Carter’s funeral will take place at Washington, D.C.’s National Cathedral. Additionally, starting on Sunday, Biden mandated that flags be flown at half staff for the next 30 days.
The Wall Street Journal claims that the NYSE’s practice, which was established in the late 1700s, began in 1885 when the Big Board closed in remembrance of the 18th president, Ulysses S. Grant. Since the exchange is a representation of America’s dominant position in the global capital markets, it rarely closes on days other than holidays. The exchange closed trading in 1968 after the assassination of Martin Luther King Jr. and also honored prior presidents.
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