U.S. stock markets will remain closed on January 9 to honor former President Jimmy Carter, continuing a long-standing Wall Street tradition of mourning national leaders.
The New York Stock Exchange and Nasdaq both announced that they will close their equity and options markets next Thursday to observe a National Day of Mourning for the 39th U.S. president and global humanitarian. Carter passed away on Sunday at his home in Plains, Georgia, at the age of 100.
Both the Nasdaq and NYSE observed a moment of silence on Monday to remember Carter. Additionally, the NYSE will fly the U.S. flag at half-staff throughout the mourning period for the late president.
Nasdaq President Tal Cohen stated, “We will close our markets on January 9 to celebrate [Carter’s] life and honor his legacy.” He added,
“Carter was an exemplary leader, one who tirelessly continued his efforts to improve the human condition even after his tenure in public office was complete.” he said.
In a separate statement, NYSE Group President Lynn Martin highlighted Carter’s “enduring legacy of humanitarianism” and noted that the exchange would honor his lifetime of service.
Following Carter’s death on Sunday, President Joe Biden declared January 9 as a National Day of Mourning, a customary action after the passing of a U.S. president. Wall Street also observes a tradition of honoring late national leaders by closing on these designated days.
Historical records from the NYSE show that the first time the exchange closed to honor a deceased president was likely April 15, 1865, following the assassination of President Abraham Lincoln.
The exchange remained closed until April 21, 1865, with another suspension of trading on April 24th and 25th as Lincoln’s funeral procession passed through New York.
Since then, the NYSE has closed to observe the deaths of several U.S. presidents, including President Franklin D. Roosevelt in 1945, President John F. Kennedy in 1963, President Richard Nixon in 1994, and President Ronald Reagan in 2004.
The most recent closure for the death of a U.S. president occurred on December 5, 2018, when both the NYSE and Nasdaq closed to honor President George H.W. Bush.
