U.S. stock and options markets closed today, the first unscheduled, market-wide shutdown since September 2001, and may remain closed Tuesday, the Wall Street Journal reports.
The NASDAQ OMX Group today announced that The NASDAQ Stock Market and other NASDAQ OMX-owned U.S exchanges and markets and the FINRA/NASDAQ Trade Reporting Facility will be closed for business today and pending confirmation on Tuesday, October 30. All other NASDAQ OMX exchanges outside the U.S. will be open for business on Monday and Tuesday as scheduled.
“The decision was made in consultation with other U.S. exchanges, government officials and regulators - including the Securities and Exchange Commission,” according to a statement for the exchange. “The continuity of our markets and a variety of factors related to Hurricane Sandy's movement up the Eastern Seaboard were considered, including the state of eagmergencies declared by New York City, New York State and other state and local governments.
In consultation with other exchanges and market participants, NYSE Euronext also closed its markets on today Monday, “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,” according to a statement from the exchange.
“We will work with the industry to determine the next steps in restoring trading as soon as the situation permits.”
But Business Insider reports that Goldman Sachs will also be open for business, according to an internal memo sent out to the bank's employees obtained by the pub.
According to the memo, the firm has activated its "Business Continuity Plans" whereby it will use teams in London and other locations around the world for additional support. They also have people working from the firm's Greenwich, Conn. and Princeton, N.J. locations. Others will be working from home, the memo states.