NEW YORK (AP) — The New York Stock Exchange and other U.S. financial markets are shutting down Monday as Hurricane Sandy bears down on the nation's largest city.
The NYSE's parent company said late Sunday that it had decided to close all of its markets the next day. The shutdown might be extended through Tuesday "pending confirmation," according to exchange operator NYSE Euronext.
The move was coordinated with other financial exchange operators, regulators and government officials, NYSE said. Nasdaq OMX Group said it is shutting down the Nasdaq stock market and its other U.S.-based exchanges and markets.
CME Group in Chicago will suspend trading of equity index futures and equity index options starting at 8:15 a.m. CDT. It had already announced the closing of the New York Mercantile Exchange, or NYMEX, whose trading floor is located inside a mandatory evacuation zone.
The companies cited concerns about the market's ability to function without disruption and the safety of people who work there.
Earlier Sunday, a key trade group recommended that bond trading close at noon on Monday. The Securities Industry and Financial Markets Association said the early close should apply to all bonds that are denominated in U.S. dollars.
NYSE had said earlier Sunday that it would close its physical trading floor but allow electronic trading to continue. The shutdown announced later applies to all trading, including electronic orders.