With Hurricane Sandy swirling towards the east coast of the U.S., the major stock markets in New York City announced Monday that trading will remain on hold for a second consecutive day on Tuesday.
NYSE Euronext (NYX), the parent of the New York Stock Exchange, said it will close its markets in coordination with all U.S. equities, bonds, options and derivatives markets on Tuesday.
The company said it intend to re-open the U.S. markets Wednesday morning if conditions permit.
Weather has not forced the New York Stock Exchange to close for two consecutive days since the Great Blizzard of 1888.
Similarly, NASDAQ OMX Group (NDAQ) said the NASDAQ Stock Market and other NASDAQ OMX-owned U.S exchanges and markets will remain closed on Tuesday.
NASDAQ also said it expects all NASDAQ OMX-owned U.S. exchanges and markets to open as normal on Wednesday.
Hurricane Sandy is forecast to create havoc through torrential rain, high wind, and severe flooding. The storm is expected to make landfall Monday night.
In a statement at the White House, President Barack Obama predicted that Hurricane Sandy would be a "big and powerful storm" and called on the public to listen carefully to state and local officials.
Obama returned to the White House Monday morning after canceling a campaign event in the key swing state of Florida.
The White House said that Obama has also canceled a campaign event in Green Bay, Wisconsin, on Tuesday in order to closely monitor the impact of and response to the hurricane.
Meanwhile, after appearing at a rally in Ohio, Republican presidential candidate Mitt Romney has canceled events in Wisconsin and Florida later in the day as well as all events on Tuesday.
Romney communications director Gail Gitcho said the decision to cancel the events was made "out of sensitivity for the millions of Americans in the path of Hurricane Sandy."
by RTT Staff Writer
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