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New York Stock Exchange, Nasdaq to reopen Wednesday after Hurricane Sandy

The New York Stock Exchange, Nasdaq and other markets are expected to reopen Wednesday after Hurricane Sandy forced exchanges to close for two days.

Us markets 2012 10 30Enlarge
US financial markets will reopen for trading on Wednesday. (Spencer Platt/Getty Images)

Conditions permitting, US financial markets will reopen on Wednesday morning after Hurricane Sandy forced exchanges to close for two days, the longest weather-related shutdown in more than 100 years, Bloomberg reported today.

The operators of the New York Stock Exchange, Nasdaq Stock Market and BATS Exchanges planned to open as usual, Reuters reported.

"We are shooting hard to open tomorrow and fully expect to do so, but lots of firms are going to have either connectivity problems, or other things, so we are urging all firms to get out there and test their back-up," NYSE Euronext Chief Operating Officer Larry Leibowitz told Reuters.

NYSE Euronext also issued a statement confirming trading “will commence on the New York Stock Exchange at 9:30 a.m. under normal opening procedures.”

RTE News reported that tomorrow is an important day for financial markets because it marks the end of the month, when traders square their books. 

The floor and building of the New York Stock Exchange were spared by Hurricane Sandy, which left a trail of destruction in the city and along the east coast of the United States after making landfall last night. 

It was the worst storm to hit the city since at least 1938, Reuters reported.

The Agence France-Presse said it was the first time US financial markets had had an unplanned closure since the September 11 terrorist attacks.

More from GlobalPost: Sandy leaves 8.3 million without power (LIVE BLOG)
 

 

http://www.globalpost.com/dispatch/news/regions/americas/united-states/121030/new-york-stock-exchange-nasdaq-Hurricane-Sandy