The New York Stock Exchange said Friday it will close on Tuesday as part of a national day of mourning to mark the funeral of President Gerald R. Ford. The NYSE joined the Nasdaq Stock Market, which made a similar announcement on Thursday, the Associated Press reports.
It had been expected that the stock exchanges would close out of respect for the 38th president. Financial markets have traditionally closed for presidential funerals, the last time being the burial of President Ronald Reagan in June 2004.
Wall Street’s closing on the day of a national funeral dates back to the burial of President Ulysses S. Grant in 1885. However, the NYSE has sometimes traded on a shortened schedule during a presidential funeral – the last time, for Herbert Hoover’s funeral in 1964.
