Stock markets close to honor Jimmy Carter

Andrew Dubbs
2 Min Read
Stock markets close to honor Jimmy Carter

The New York Stock Exchange and Nasdaq will close today to honor former President Jimmy Carter, who passed away at age 100 on December 29, 2024. This continues a Wall Street tradition dating back to 1865 when markets shut down after President Abraham Lincoln’s assassination. The financial industry collectively decided to honor Carter’s service as president and his humanitarian work.

Tal Cohen, Nasdaq president, stated, “When Carter died, the financial industry collectively made a decision to honor what he’s done, the service he’s provided as president—and after he’s been president.

NYSE president Lynn Martin also praised Carter’s “lifetime of service to our nation” in a press release announcing the closure. Bond markets will remain open until 2 p.m. based on a recommendation from the Securities Industry and Financial Markets Association.

Honoring former President Carter

Mid-week stock market closures are uncommon and usually reserved for significant events. The last instance was in 2018 after the death of former President George H.W. Bush. Markets have also closed in reaction to events like the September 11th terrorist attacks and Hurricane Sandy.

Cohen said the Nasdaq had time to prepare for the closure, as Carter passed away nearly two weeks ago. Preparations involved coordinating with other exchanges, regulators, and various parts of the financial industry. “It was a large undertaking,” he said, “but we thought it was worth the effort.”

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Andrew covers investing for considerable.com. He writes on the latest news in the stock market and the economy.