US Stock Market to Close Jan. 9 on Day of Mourning for Carter

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US Stock Market to Close Jan. 9 on Day of Mourning for Carter

Bloomberg2024-12-30

NYSE to shutter Jan. 9 to commemorate former President CarterCarter died at 100 on Dec. 29, as longest-living presidentUS stock markets will close Jan. 9, in observance of a national day of mourning ...

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CME Group Inc., operator of US-based equity and interest-rates markets, CBOE Global Markets Inc. had not yet commented on their plans.The closures are part of a long-standing American tradition in which financial institutions halt operations following the death of a US president. Carter died Dec. 29 at 100, and was the longest-living US president in history. The most recent national day of mourning came on Dec. 5, 2018, for the funeral of President George H.W. Bush.“The NYSE will respectfully honor President Carter’s lifetime of service to our nation by closing our markets on the National Day of Mourning,” Lynn Martin, President of NYSE Group, said in a statement. NYSE will also fly the US flag at half-staff during the mourning period, the statement said.While markets are otherwise loath to suspend trading, the death of a president has long been an exception, beginning with the April 1865 assassination of Abraham Lincoln. News of the 16th president’s death carried “a sensation of horror and of agony which no other event in our history has ever excited,” the New York Times reported. “Business was suspended. Crowds of people thronged the streets.”An illustration of Abraham Lincoln’s body lying in state at City Hall in New York in 1865.Source: BettmannSince then, markets have shuttered to commemorate the passing of 21 US presidents. Carter was the 39th president.Markets have also shut for natural disasters, national emergencies and assaults like the Wall Street bombing of 1920 and the terrorist attacks on the World Trade Center on Sept. 11, 2001.“The markets were right to shut down and just avoid financial panic,” Yardeni said, referring to 9/11. “Nobody really knew whether there would be more attacks.”Celebratory MomentsIt’s not just grim occasions that have kept trading floors silent. Markets have also closed to mark celebratory moments, like the 100th anniversary of George Washington taking the oath of office as the first US president at a spot right across the street from the NYSE’s current home.Wall Street has also stopped trading to mark the end of wars and to throw its ticker tape at heroes being paraded up Broadway.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":16,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}