Sandy forces first two-day weather closure of stock markets since 1888
900 guests being evacuated from Le Parker Meriden Hotel after crane hangs from nearby site.
Hurricane Sandy is forcing the first two-day weather related closure of U.S. equity markets since 1888, the final year of Grover Cleveland’s first term as president.
Data from the New York Stock Exchange indicates it was last closed for two days in a row for weather on March 12 and 13, 1888 for the Blizzard of ’88. The snow storm dumped 40 to 50 inches of snow on areas of New Jersey, New York and Connecticut.
3 Responses to Sandy forces first two-day weather closure of stock markets since 1888
It’s absolutely ridiculous that in the 21st century they have to close the electronic markets down because of a storm threatening lower Manhattan.
Absolutley insane. Turn those machines back on Randolph!
_______
Reply
Shut the capital markets for a hurricane? Next for a snow storm, or a flu or maybe someone died. What happened to the fighting spirit that won wars and built a capital system? Give me a break.
Reply
What is not understood is NYC is the financial capital of the world. My office is closed and all the big banks offices are closed. The Subways are shut down. How do you expect everyone here to get to work? You know how much (more) manipulation we would endure with all the big dogs stuck at home (presumably, with no power!)?
Reply