(Reuters) - With state and local governments across the United States taking steps to contain the coronavirus spread, including requiring the closing of schools, restaurants and other meeting places, questions have begun to swirl on whether stock markets will shutter.
On Thursday, CBOE Global Markets (CBOE.Z) said it would suspend open-outcry trading and move to an electronic-only mode until further notice as a precautionary measure.
On Friday, the NYSE, which is owned by Intercontinental Exchange Inc (ICE.N), issued a trader alert that it aims to keep its equity and options trading floors open “in the days and weeks ahead,” even as it asked its staff at 11 Wall Street, not needed to support floor trading, to work from home amid coronavirus concerns.
For its part, the Nasdaq (NDAQ.O) issued a statement on Sunday that all electronic Nasdaq-operated equities, options, and fixed income markets will remain in operation and Nasdaq PHLX Options trading floor in Philadelphia will temporarily close on Tuesday as it moves to an electronic-only environment.
From the government perspective, U.S. markets should stay open despite the intense volatility, said Securities and Exchange Commission Chair Jay Clayton in a phone interview with CNBC network on Monday.
There have been six extended closings of the NYSE of at least one day or more since 1885, a person at the exchange confirmed. Below is a list and the reason for each.
March 12-13, 1888 - Blizzard of 1888
July 31-Nov 27, 1914 - Pending start of WWI
July 14, 1977 - New York City blackout
Sept, 27, 1985 - Hurricane Gloria
Sept 11-14, 2001 - Attack on World Trade Center
Oct 29-30, 2012 - Hurricane Sandy
Reporting by Chuck Mikolajczak in New York; Editing by Alden Bentley and Matthew Lewis