Stock markets to shut Wednesday to honour late president


The Dow Jones Industrial Average rose 184.84 points, or 0.71 percent, to 26,246.96, the S&P 500 gained 15.51 points, or 0.54 percent, to 2,904.31 and the Nasdaq Composite added 60.32 points, or 0.76 percent, to 7,956.11. (Picture shows a trader working on the floor of the NYSE yesterday. - Reuters)

NEW YORK: Stock markets will close Wednesday for a national day of mourning to honour former President George H.W. Bush. The Securities Industry and Financial Markets Association hasn’t confirmed whether bond markets will also be closed.

The New York Stock Exchange, Nasdaq Inc’s US equities and options markets and CME Group Inc’s US-based equity markets will shut, the companies said. They will also observe a moment of silence today.

US financial markets traditionally close following a presidential death. The most recent observation was Jan 2, 2007, after the death of President Gerald Ford.

“The President will designate Wednesday, Dec 5 as a National Day of Mourning. He and the First Lady will attend the funeral at the National Cathedral in Washington, DC,” White House press secretary Sarah Huckabee Sanders said in a statement. — Bloomberg

 

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