It is a rare occasion for the New York Stock Exchange to close operations two days in succession. The last time it occurred was during the Great Blizzard of 1888, which dropped between 40 to 50 inches over the northeastern United States. However, To guard against flooding and power outages that hurricane Sandy brought to New York City, U.S. exchanges to decided to close Monday and Tuesday.
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The exchange is one of the most identifiable symbols of capitalism in the world, and accordingly any unscheduled closures reflect symbolically on the state of the American economy. After the Sept. 11, 2001 terrorist attacks prompted the four-day closure of the Big Board closed for four days. its reopening “was heralded around the world as a sign of the strength of the United States.”
While the storm left the streets outside 11 Wall Street littered with sandbags and debris, the New York Stock Exchange (NYSE:NYX), Nasdaq (NASDAQ:NDAQ), Chicago Board Options Exchange (NASDAQ:CBOE), and CME (NASDAQ:CME) will resume normal trading Wednesday.
According to the New York Times, Wall Street has used the closure to test systems and asses the market.