U.S. stock markets to reopen

  • Major U.S. stock exchanges are expected to open later today after super-storm Sandy shut down trading for two days.

    The New York Stock Exchange will reopen but may switch to fully electronic trading if required. The Nasdaq will also resume trading.

    It is the first time that adverse weather has forced a closure for two consecutive days since 1888.

    The southern tip of Manhattan, where Wall Street and the NYSE are located, lost power on Monday after being hit by Sandy.

    The NYSE has backup generators and 40 hours worth of fuel.

    Bond markets, which were closed on Tuesday, are also expected to reopen.