Hurricane Sandy Shuts Down Wall Street

Hurricane Sandy's full impact on the U.S. economy won't be known for quite some time, though some estimates for possible damage are in the billions. A more immediate economic effect is on the markets, as Wall Street shuts down for at least Monday.

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STEVE INSKEEP, HOST:

A Wall Street shutdown is at the top of NPR's business news.

Parts of New York's financial district are in the hurricane evacuation zone this morning. The New York Stock Exchange, NASDAQ and the New York Mercantile Exchange have all been shut down for the day, both floor and electronic trading. Officials for the New York Stock Exchange and NASDAQ say trading may not get back to normal until Wednesday.

Normally the weather does not get in the way of making or losing money. The last time trading on New York's exchanges was halted was after the September 11 attacks more than a decade ago. And for the last weather related shutdown, you have to go all the way back to Hurricane Gloria in 1985.

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