Stock Markets Close on Weather Concerns for First Time in 27 Years

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By Avi Salzman

Associated Press

Sand bags protect an entrance of the New York Stock Exchange, Monday, Oct. 29, 2012.

Stock markets are shut down today as the Northeast braces for Hurricane Sandy. It’s the first weather-related full-day shutdown in 27 years. The last was for Hurricane Gloria in 1985.
NYSE Euronext says the exchange could be closed on Tuesday too, “pending confirmation.”
“In consultation with other exchanges and market participants, NYSE Euronext (NYX) will close its markets on Monday, Oct. 29, 2012 and pending confirmation on Tuesday, Oct. 30, 2012.  We support the consensus of the markets and the regulatory community that the dangerous conditions developing as a result of Hurricane Sandy will make it extremely difficult to ensure the safety of our people and communities, and safety must be our first priority.  We will work with the industry to determine the next steps in restoring trading as soon as the situation permits.”
Futures are still trading; Dow futures fell 91 points on weakness in Europe, and S&P 500 futures were off by 9 points.
Pfizer (PFE) and other companies delayed their earnings reports.

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