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Hurricane Sandy leads to NYSE and Nasdaq shutdown

  • The New York Stock Exchange will be closed on Monday and provisionally on Tuesday as the city prepares for the arrival of Hurricane Sandy.

    The exchange said the hurricane would "make it extremely difficult to ensure the safety of our people".

    The Nasdaq exchange will also be shut on Monday.

    This is the first time in 27 years the stock markets have closed for a full day due to poor weather conditions.

    In September 1985, Hurricane Gloria forced a market closure.

    Several states along the East Coast have declared emergencies, with schools closed and transport services suspended.

    States of emergency have been declared in Maryland, New York, Pennsylvania, Virginia, Washington D.C. as well as a coastal county in North Carolina.