Hurricane Sandy closes US stock markets through Tuesday

The US stock and options markets will remain closed through Tuesday, as the Eastern Seaboard braced for what could be colossal impact from the much-anticipated Hurricane Sandy.

Markets are due to reopen on Wednesday if the storm clears, CNBC reported, noting the last time the markets were closed for two straight days due to weather concerns was in 1888.

The markets last closed due to extreme weather in 1985, when Hurricane Gloria hit the US, Barron's reported.

The decision to keep the markets closed comes after the storm forced tens of thousands of Wall Street employees to remain at home due to the city's mass transit shutdown, CNBC reported.

According to CNBC, Goldman Sachs, Citigroup and other global banks have activated their September 11 "emergency plans" to put some traders in hotels near their offices during the shutdown.

Anyway, stats and news aside, I am still on the sideline and having a break. I will not be back till later in the week, so thanks for your emails and patience. These are the one of the things we have no control over, and my thoughts and prayers are with those in the affected areas.

Thankyou.

Chip :=)



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