Hurricane Sandy Having Impact on U.S. Stock Market
UPDATE: The New York Stock Exchange announced that it would remain closed on Tuesday. This marks the first two-day closure due to weather since 1888.
DALLAS (CBSDFW.COM/AP) – Though Hurricane Sandy has yet to officially make landfall on the East Coast, the U.S. stock market is already feeling the impact. The U.S. Stock and Options Exchange is closed on Monday in anticipation of Hurricane Sandy.
The unplanned closing is the first market-wide shutdown since the terrorist attacks in September of 2001.
According to Jill Schlesinger, Editor-at-Large for CBS MoneyWatch, the closure could extend into Tuesday as well.
“It’s likely to close again tomorrow, talking to some of the exchange officials who say that they are going to try and make that decision later on Monday afternoon.”
Duncan Niederauer, the chief executive of the exchange’s parent company, NYSE Euronext, also told CNBC that it was “hard to imagine” that the exchange would open on Tuesday.
The U.S. bond markets will remain open until noon on Monday. Commodity markets are open via their electronic platforms.
Overseas, European stock markets were mostly lower. Crude oil fell 32 cents to $85.96 in electronic trading.
U.S. index futures fell slightly in thin trading. Dow Jones industrial average futures fell 61 points to 12,993 and S&P 500 futures fell five points to 1,402. Nasdaq futures fell 15 to 2,643.
The mass transit systems in New York and New Jersey were also closed on Monday.
(© Copyright 2012 The Associated Press contributed to this report. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)
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