US stock markets including the Nasdaq will close on 9 January… here's why
US market trading hours will be disrupted throughout Thursday as the country observes a national day of mourning.
Outgoing President Joe Biden declared a national day of mourning for 9 January, thereby triggering a traditional closure across equity and bond markets.
The New York Stock Exchange, Nasdaq and CME Group said they would close their respective equity and options markets for the day.
All US equity options expiring on 9 January will now expire on 8 January instead.
Meanwhile the US bond market will close two hours early at 2pm Eastern Time (7pm GMT).
It follows the death of the country's 39th President Jimmy Carter in December at the age of 100.
US markets will be closed on 9 January as the country observes a national day of mourning
Lynn Martin, president of NYSE Group, said the exchange would honour Carter's 'lifetime of service to our nation' with its closure.
Tal Cohen, president of Nasdaq, added: 'President Carter was an exemplary leader, one who tirelessly continued his efforts to improve the human condition even after his tenure in public office was complete.
'His contributions will be felt by those around the world for years to come.'
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Market closures are customary following the death of a former or serving US President, with the 1865 assassination of Abraham Lincoln marking the first NYSE example.
The last time a Presidential death was marked by a closure of both the NYSE and Nasdaq, which was formed in 1971, was in 2018 when the exchanges marked the passing of George H.W. Bush.
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