US stock markets to remain closed in honor of Jimmy Carter on National Day of Mourning
NEW YORK– In honor of these developments, US stock markets will remain closed on January 9 former President Jimmy Cartercontinuing a long-held Wall Street tradition of mourning the nation’s leaders.
Both the New York Stock Exchange and the Nasdaq announced this week that they plan to close their stock and options markets next Thursday in honor of a National Day of Mourning for the 39th U.S. president and global humanitarian. Carter died on Sunday at his home in Plains, Georgia. He was 100 years old.
The Nasdaq also observed a moment of silence in memory of Carter early Monday. And the NYSE says it will fly the American flag at half-staff during the late president’s mourning period.
Tal Cohen, president of Nasdaq, said in a statement that the exchange would close its markets on Jan. 9 “to celebrate Carter’s life and honor his legacy.” He added that Carter “was an exemplary leader, one who tirelessly pursued his efforts. to improve the human condition even after his term was complete.”
In a separate announcement, NYSE Group Chairman Lynn Martin also noted Carter’s “enduring legacy of humanitarianism” and said the exchange was intended to honor his lifelong service.
President Joe Biden declared January 9 a National Day of Mourning shortly after Carter’s death on Sunday, which is customary after the death of a US president. Wall Street also has the tradition of paying tribute to the country’s deceased leaders and closed their doors on these designated days.
Surviving NYSE records show that the first time the century-old stock exchange closed in honor of a deceased president was likely April 15, 1865 — after the assassination of President Abraham Lincoln, the NYSE confirmed to The Associated Press on Tuesday — and remained closed until April 21, 1865. Trade was suspended again on April 24 and 25 of that year, when Lincoln’s funeral procession reached New York.
In the years that followed, the NYSE also closed in honor of other U.S. presidents, including but not limited to the National Days of Mourning for President Franklin D. Roosevelt in 1945, President John F. Kennedy in 1963, President Richard Nixon in 1994 and President Ronald Reagan in 2004.
The last time both the NYSE and Nasdaq, founded in 1971, closed trading due to the death of a US president was on December 5, 2018, in honor of the late President George HW Bush.
While non-holiday closures are rare, the NYSE and Nasdaq have also suspended trading over the years due to the deaths of other notable figures and national tragedies. According to to CNBC And Bloombergthe NYSE closed after the assassination of Martin Luther King Jr. in 1968. And both the NYSE and Nasdaq canceled trading after the terrorist attacks on September 11, 2001, and continued closed until September 17, 2001.