NEW YORK — U.S. stock markets will be closed on January 9 to honor former President Jimmy Carter, continuing a longstanding Wall Street tradition that pays tribute to the nation’s leaders.
The New York Stock Exchange and Nasdaq confirmed this week that they will shut down equity and options markets next Thursday in observance of a National Day of Mourning for the 39th U.S. president and renowned humanitarian, who passed away at the age of 100 at his home in Plains, Georgia.
As part of the tribute, the Nasdaq held a moment of silence on Monday to remember Carter, while the New York Stock Exchange announced it will lower its U.S. flag to half-staff throughout the mourning period.
Tal Cohen, president of Nasdaq, stated that the markets will close on January 9 to “celebrate Carter’s life and honor his legacy,” highlighting his dedication to improving the human condition both during and after his presidency.
Similarly, Lynn Martin, president of NYSE Group, emphasized Carter’s “enduring legacy of humanitarianism” and the exchange’s commitment to honoring his lifetime of service.
President Joe Biden declared January 9 a National Day of Mourning following Carter’s death, a customary action that follows the passing of an American president. Wall Street has a tradition of recognizing the deaths of past leaders with market closures.
Historical records from the NYSE show that the exchange’s first closure in honor of a deceased president occurred on April 15, 1865, in the aftermath of President Abraham Lincoln’s assassination, and it remained closed until April 21, 1865. Trading was also paused on April 24 and 25, coinciding with Lincoln’s funeral procession in New York.
Since then, the NYSE has closed its doors to commemorate other U.S. presidents, including national days of mourning for Franklin D. Roosevelt in 1945, John F. Kennedy in 1963, Richard Nixon in 1994, and Ronald Reagan in 2004.
The most recent closure for a presidential death occurred on December 5, 2018, when both the NYSE and Nasdaq honored former President George H.W. Bush.
While closures on non-holidays are infrequent, both exchanges have suspended trading for notable figures and national tragedies throughout history. They shut down following the 1968 assassination of Martin Luther King Jr. and closed again after the September 11, 2001, terror attacks, resuming operations on September 17, 2001.
