The New York Stock Exchange (NYSE) will suspend trading on January 9, as the nation will observe a day of mourning for the late former President Jimmy Carter. President Biden has declared this day a national day of remembrance to honor Carter's life and contributions.
Commemorating the president's passing is a tradition of the New York Stock Exchange
It is a tradition for the New York Stock Exchange to suspend trading upon the death of a U.S. president. The most recent occurrence was in December 2018, when the exchange closed to mourn former President George H.W. Bush.
The New York Stock Exchange was established in the late 18th century and first closed in 1885 to mourn the death of the 18th President of the United States, Ulysses S. Grant. Aside from this, the NYSE rarely shuts down on regular weekdays that are not holidays.
The Nasdaq responds in sync with the bond market
The Nasdaq will also cease trading on January 9 to honor President Carter. Meanwhile, the bond market will have shortened trading hours, closing early at 2 PM Eastern Time, as recommended by the Securities Industry and Financial Markets Association.
This article states that the New York Stock Exchange will be closed on January 9 in memory of former President Jimmy Carter. It first appeared in Chain News ABMedia.