UPDATE, 3:30 PM: The New York Stock Exchange will suspend trading for a second day because of weather for the first time since 1888. “It’s a monumental event, and we take it very seriously,” said Larry Liebowitz, COO of NYSE Euronext, the company that operates the NYSE. “It’s not a hyped-up drama.” Leibowitz spoke shortly at 2 PM ET after conference calls with stock brokerage firms, regulators and officials during which a “consensus” emerged to close markets for a second day. He was “optimistic” the markets would reopen Wednesday.
PREVIOUS, 7:30 AM: The New York Stock Exchange ditched its plan to provide electronic trading on its NYSE ARCA exchange. Following NASDAQ’s decision last night to close because of Hurricane Sandy, it means that today will be the first unplanned day without stock trading since 9/11, the AP reports. It’s also the first time weather has closed the markets since Hurricane Gloria in 1985. If the markets are closed tomorrow, then it will be the first time the stock exchanges have been shuttered for two days due to weather since the blizzard of 1888. NASDAQ says that it is “likely” that it will be closed tomorrow. Meanwhile, the Chicago Board Options Exchange is dark today. And the Securities Industry and Financial Markets Association has recommended that bond trading end by noon ET. Several companies have delayed their planned quarterly earnings releases including Pfizer, Thomson Reuters, and Martha Stewart Living Omnimedia.