The New York Stock Exchange will close on January 9 to mark a national day of mourning for former President Jimmy Carter.
It is customary for the NYSE to close trading to honor the passing of the president. The last such occasion occurred in December 2018, when George Herbert Walker Bush died.
The Nasdaq will also close for trading that day. The bond market will close early at 2:00 p.m. ET, as recommended by the Securities Industry and Financial Markets Association.
Carter, the nation’s 39th president, died on Sunday at the age of 100. He was best known for his post-presidency peacekeeping and humanitarian efforts.
On Sunday, President Joe Biden declared January 9 to be a national day of mourning. Carter’s funeral will be held that day at the National Cathedral in Washington, D.C. Biden also ordered that flags be flown at half-staff for the next 30 days, beginning Sunday.
According to The Wall Street Journal, the NYSE, which was founded in the late 1700s, began this practice in 1885, when the Big Board closed to honor 18th President Ulysses S. Grant.
The exchange rarely closes on non-holidays because it represents America’s global leadership in capital markets. In addition to honoring former presidents, the exchange closed trading in 1968 after Martin Luther King Jr. was assassinated.
