Stock Markets to Pause: A Day to Remember President Carter

The New York Stock Exchange (NYSE) and the Nasdaq will temporarily shut down on January 9 to honor the late President Jimmy Carter. This isn't just any day off; it's a national day of mourning. Carter, our 39th president, is known for his incredible humanitarian work after leaving office. He passed away at the remarkable age of 100. You might be wondering, why the big fuss about a day of mourning? Well, it's actually a tradition that goes back to 1885. That's when the NYSE first closed its doors to honor the passing of a president—specifically, Ulysses S. Grant. And it's not just presidents; the exchange has also shut down for significant historical events, like Martin Luther King Jr. 's assassination in 1968. President Joe Biden has declared January 9 as the official day of mourning. Carter's funeral will be held at the National Cathedral in D. C. on that day. Flags across the country will fly at half-staff for the next 30 days starting from Sunday. It's a solemn time, and one that reminds us of the respect our country holds for its leaders. But what about the money stuff? Stock market traders won't be alone in their break. The bond market will wrap up early at 2 p. m. ET that day, following a recommendation from the Securities Industry and Financial Markets Association. Even though the stock markets are vital for our economy, they're willing to take a pause to honor a great leader. It's a sign of respect that goes way back in history.