U.S. stock markets will be closed on January 9 in honor of former President Jimmy Carter, who passed away at the age of 100. Both the New York Stock Exchange (NYSE) and Nasdaq announced their decision to close their equity and options markets as a mark of respect for the 39th U.S. president and global humanitarian. This closure is part of a long-standing tradition on Wall Street where markets are closed in mourning for the nation’s leaders. President Joe Biden declared January 9 as a National Day of Mourning following Carter’s death, a customary practice after a U.S. president passes away.
Both the NYSE and Nasdaq observed a moment of silence on Monday to remember Jimmy Carter. Nasdaq president, Tal Cohen, stated that the exchange would be closing its markets on January 9 to celebrate Carter’s life and honor his legacy. NYSE Group president Lynn Martin also highlighted Carter’s enduring legacy of humanitarianism and announced plans to honor his lifetime of service. The NYSE will fly its U.S. flag at half-staff throughout the mourning period for the late president.
Records from the NYSE indicate a long history of closing to honor deceased American presidents, dating back to April 1865 following the assassination of President Abraham Lincoln. The exchange was closed from April 15 to April 21 that year and also suspended trading on April 24th and 25th when Lincoln’s funeral procession reached New York. In subsequent years, the NYSE has closed to honor presidents such as Franklin D. Roosevelt, John F. Kennedy, Richard Nixon, Ronald Reagan, and George H.W. Bush. The NYSE and Nasdaq have a tradition of paying homage to the nation’s late leaders by closing their doors on designated days of mourning.
The last time both the NYSE and Nasdaq closed trading due to the death of a U.S. president was on December 5, 2018, in honor of George H.W. Bush. While closures for non-holidays are rare, both exchanges have suspended trading for other notable figures and national tragedies. The NYSE closed following the 1968 assassination of Martin Luther King Jr. and both exchanges canceled trading after the September 11, 2001 terror attacks, remaining closed until September 17. Wall Street has a tradition of respecting the nation’s leaders by commemorating their lives and legacies through moments of silence, flag-lowering, and closures on designated days of mourning.
The closure of the stock markets on January 9 will give investors and traders a day to reflect on the life and contributions of former President Jimmy Carter. As the nation remembers Carter’s humanitarian efforts and dedication to public service, Wall Street stands in solidarity by honoring his legacy. The National Day of Mourning is a time for Americans to unite in recognition of a leader who made significant contributions to society, both during his presidency and in his post-political career. The closure of the markets serves as a symbolic gesture of respect and remembrance for a president who left a lasting impact on the nation and the world.
