New York City Shuts Down Trading in Honor of Former President Jimmy Carter
New York City is set to observe a day of mourning on January 9, as the nation remembers former President Jimmy Carter, who sadly passed away at the impressive age of 100. In a move befitting the occasion, the New York Stock Exchange (NYSE) and the Nasdaq will both close their doors that day to honor the legacy of the nation’s 39th president.
A Historic Closure for a Historic Leader
For those who may not be aware, it’s a long-held tradition for the NYSE to halt trading when a president dies. This practice dates back to 1885, when the Big Board closed for the passing of Ulysses S. Grant, the 18th President of the United States. Since then, this solemn gesture has only been done a few times for presidents, including the recent closure for George H.W. Bush in December 2018.
Carter’s death has deeply touched many Americans. He was not only known for his presidency, but for his extraordinary humanitarian work and peace efforts after leaving the White House. President Joe Biden officially declared January 9 as a day of mourning, ensuring that the nation takes a moment to reflect on Carter’s contributions.
What to Expect on January 9
In line with the day of mourning, there will be early closure for bond trading at 2 p.m. ET, as recommended by the Securities Industry and Financial Markets Association. Expect many businesses and individuals across the country looking back fondly on Carter’s impact during this time.
Carter’s funeral is set to take place at the National Cathedral in Washington, D.C. on the same day. In recognition of this momentous occasion, President Biden has ordered all flags to be flown at half-staff for a period of 30 days.
Somber but Significant
It’s quite rare to see such closures in the stock market outside of honoring a holiday. The NYSE stands as a symbol of America’s strength in global markets. Other notable occasions where trading has been suspended include the closure in 1968 following the tragic assassination of Martin Luther King Jr., and during most national tragedies such as the September 11 attacks. Each of these moments highlights a reverence for life and loss that resonates deeply within the nation.
In Closing
As we prepare for this day of remembrance, it’s a chance for us all to acknowledge the impact that Jimmy Carter had, not just as a president but also as a humanitarian. Whether you’re in the bustling streets of New York City or somewhere else in the country, take a moment to reflect on his life and contributions.
Trading may halt, but the legacy of Jimmy Carter will continue to inspire. As a nation, let’s come together to celebrate a life well-lived, a leader committed to peace and service above self.
