US markets close to honoring former president Jimmy Carter: NPR

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WASHINGTON, DC - JANUARY 8: Former US President Jimmy Carter's flag-draped casket lies in state in the US Capitol Rotunda on January 8, 2025 in Washington, DC. Carter, the 39th President of the United States, died at the age of 100 on December 29, 2024 at his home in Plains, Georgia. (Photo by Andrew Harnik/Getty Images)

WASHINGTON, DC – JANUARY 8: Former US President Jimmy Carter’s flag-draped casket lies in state in the US Capitol Rotunda on January 8, 2025 in Washington, DC. Carter, the 39th President of the United States, died at the age of 100 on December 29, 2024 at his home in Plains, Georgia. (Photo by Andrew Harnik/Getty Images)

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Andrew Harnik/Getty Images North America

Wall Street’s opening bells remain silent Thursday.

The New York Stock Exchange and Nasdaq both close for trading today as the financial industry joins one national day of mourning for former President Jimmy Carter. The global humanitarian died on 29 Decat the age of 100, and will be honored at a state funeral today in Washington.

The rare midweek trading halt continues a Wall Street tradition that dates back to 1865. After President Abraham Lincoln was assassinated, the New York Stock Exchange closed for days.

Since then, US stock markets have regularly closed to mourn deceased presidents. The last one closure was in 2018, after the death of former President George HW Bush.

When Carter died, the financial industry “collectively made a decision to honor what he’s done, the service he’s given as president — and after he’s been president,” said Tal Cohen, president of Nasdaq.

NYSE President Lynn Martin, too praised Carter’s “lifetime of service to our nation” in a press release announcing her exchange’s closing for today.

Not all financial markets are free: the bond markets stays open until 2 p.m., according to a recommendation from the industry association SIFMA for investment banks and asset managers.

It is rare for the stock market to close in the middle of the week. And it’s not always planned: Both the NYSE and Nasdaq closed in response 11 September terrorist attacks and Hurricane Sandy.

Cohen tells NPR that Nasdaq had little time to prepare for today since Carter died nearly two weeks ago. His company made its plans with other exchanges, regulators and other parts of the financial industry.

“It was a big job,” he says. “But we thought it was worth the trouble.”