U.S. stock market expected to reopen Wednesday
The New York Stock Exchange Euronext (NYSE) announced on Tuesday that it will open on Wednesday for normal trading operations in coordination with all U. S. equities, bonds, options and derivatives markets, Xinhua reported.
According to Duncan Niederauer, CEO of NYSE, the floor of the exchange has not been damaged by Hurricane Sandy and the NYSE has been testing a back-up plan if the storm damage will prevent it from reopening the floor on Wednesday.
U.S. stock markets have been closed for two days as Hurricane Sandy hit New York City, especially lower Manhattan.
The last time the New York Stock Exchange was closed for weather was in 1985 because of Hurricane Gloria, and this time was the first one since 1888 that the exchange had been closed for two consecutive days because of weather.