The New York Stock Exchange (NYSE) and Nasdaq will pause their operations on January 9, 2025, to honor the late President Jimmy Carter, marking a National Day of Mourning. This decision to close the markets comes as a tribute to Carter’s extensive public service and humanitarian legacy. Both stock exchanges will stand in solidarity, joining the national observance commemorating the life of the former president who passed away at the age of 100. This gesture reflects an appreciation for a leader who significantly impacted various facets of society during and after his presidency.
In past instances, U.S. stock exchanges have also closed to honor former presidents and other notable figures, emphasizing the importance of recognizing influential leaders. For example, similar closures occurred following the deaths of President George H.W. Bush and President Ronald Reagan. These events serve as a unifying moment for the nation, showcasing respect and acknowledgment of the contributions made by these national figures.
How Will the Stock Market Be Affected?
The decision to close the NYSE, Nasdaq, and associated markets on January 9 reflects a tradition of pausing financial activities in remembrance of significant national figures.
“The NYSE will respectfully honor President Carter’s lifetime of service to our nation by closing our markets,” stated NYSE Group President Lynn Martin. The closure affects NYSE American Equities, NYSE American Options, NYSE Arca Equities, among others, while Nasdaq will also suspend all U.S. equities and options markets. This suspension is intended to allow market participants to participate in the national commemoration.
What Other Actions Will Be Taken?
President Biden has declared January 9 a National Day of Mourning, ordering public buildings and the military to lower flags to half-staff for 30 days.
“I call on the American people to assemble on that day in their respective places of worship,” he stated, inviting a worldwide participation in honoring Carter’s legacy. The NYSE has also committed to lowering its American flag throughout the mourning period, respecting the former president’s contributions to the nation, while Nasdaq observed a moment of silence in his memory.
Jimmy Carter’s impact extended beyond his presidency, influencing sectors such as the airline industry while advocating for peace and human rights. His commitment to humanitarian causes continued through initiatives like Habitat for Humanity, which he supported alongside his wife, Rosalynn Carter. This commitment has left a lasting legacy on both a national and international scale.
Reflecting on Carter’s enduring influence, his family continues to emphasize ideals of peace, human rights, and love.
“My father was a hero… to everyone who believes in peace, human rights, and unselfish love,” expressed his son Chip. The former president’s legacy lives on through his children, grandchildren, and great-grandchildren, who carry forward his mission of fostering unity and understanding.
The nationwide observance of Jimmy Carter’s passing not only honors his life but also serves as a reminder of the impact of dedicated public service. Marking a day of reflection, the stock exchange closures align with broader national gestures of respect, highlighting Carter’s profound influence on American history. His legacy will continue to inspire future generations and uphold the values he championed.
