Markets to Pay Tribute to Jimmy Carter’s Enduring Legacy
The U.S. stock markets will come to a standstill on January 9, as the nation honors the life and legacy of former President Jimmy Carter. This decision, announced by the New York Stock Exchange (NYSE) and Nasdaq, continues a long-standing tradition of paying respect to the country’s leaders.
A National Day of Mourning
President Joe Biden declared January 9 a National Day of Mourning, following Carter’s passing on Sunday at the age of 100. This declaration is a customary gesture of respect, typically observed after the death of an American president.
Wall Street’s Tradition of Respect
The NYSE and Nasdaq have a rich history of closing their doors to pay homage to the nation’s late leaders. The last time both exchanges suspended trading was on December 5, 2018, following the death of President George H.W. Bush. Similarly, markets closed on January 2, 2007, after the passing of President Gerald R. Ford.
A Moment of Silence and Reflection
In addition to the market closure, the Nasdaq observed a moment of silence early Monday to remember Carter’s life and achievements. The NYSE will also fly its U.S. flag at half-staff throughout the mourning period.
Celebrating a Life of Service
Tal Cohen, Nasdaq president, praised Carter’s tireless efforts to improve the human condition, even after his tenure in public office. Lynn Martin, NYSE Group president, echoed this sentiment, highlighting Carter’s “enduring legacy of humanitarianism” and lifetime of service.
Rare but Significant Closures
While market closures are rare on non-holidays, the NYSE and Nasdaq have suspended trading in the past to honor notable figures and national tragedies. For instance, the NYSE closed following the 1968 assassination of Martin Luther King Jr., and both exchanges canceled trading after the 9/11 terror attacks.
As the nation comes together to mourn the loss of Jimmy Carter, the U.S. stock markets will stand still, paying tribute to a life dedicated to service and humanitarianism.
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