U.S. Markets Closed As Hurricane Nears

U.S. markets will be closed on Monday and possibly Tuesday as Hurricane Sandy approaches the East Coast.

The announcement of Monday’s closure was made Sunday night in statements by the major exchanges after consultation with the Securities and Exchange Commission. A decision on whether the markets will open Tuesday will depend on the severity of the hurricane, which was expected to make landfall Monday night.

The New York Stock Exchange released this statement: “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.”

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