The New York Stock Exchange and NASDAQ have decided not to open for trading tomorrow because of Hurricane Sandy, according to CNBC and Reuters. Reuters Tweeted, "More: Decision to close U.S. stock markets come because of concerns about market integrity - source #breaking"
NYSE had previously said the trading floor was be closed but electronic trading would continue, but now NYSE Euronext says, "The dangerous conditions developing as a result of Hurricane Sandy will make it extremely difficult to ensure the safety of our people and communities, and safety must be our first priority... We support the consensus of the markets and the regulatory community that the dangerous conditions developing as a result of Hurricane Sandy will make it extremely difficult to ensure the safety of our people and communities, and safety must be our first priority."
Bloomberg said earlier that he thought Monday would be just another work day and people would eventually make their way into work as the day progressed (even though the MTA will be totally shut down.)
He still has city offices opened tomorrow.
Now even the NYSE is saying "No trading, electronic or otherwise, takes place tomorrow. We're closed for business!"
You see, even they're not as insane as the Mayor of Money.
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