Trading reminder: US stock market will be closed on January 9 to commemorate Jimmy Carter

BiyaPay

发布于 2025-01-07 更新于 2025-01-07

Dear BiyaPay users:

To commemorate the 39th President of the US, Jimmy Carter, we hereby inform you that the trading hours of the US stock market will be adjusted. Please pay close attention to the following information and arrange your investment and remittance plans reasonably.

Changes in trading hours

US stock market:

January 9th (Thursday) is closed all day.

Remittance service notification

During this period, BiyaPay’s remittance business will proceed normally.

Please note that there may be delays in the relevant remittance business. We suggest that you make arrangements in advance to avoid possible inconvenience.

Background

Jimmy Carter, the 39th US president, died on Sunday at the age of 100. He was also the longest-lived president in US history.

Afterwards, the US White House issued a statement from President Biden, instructing the White House and US federal government facilities, US military bases, and overseas territories to fly their flags at half-mast for 30 days. This is also the longest period in the US “half-mast” rule, specifically for the death of a current or former president. Biden also arranged a state funeral for Carter on January 9, 2025, and declared January 9 as the US National Day of Mourning, which is usually considered a federal holiday.

The New York Stock Exchange and Nasdaq will be closed that day to pay tribute to President Carter.

Lynn Martin, President of the New York Stock Exchange Group, said in a statement: “The New York Stock Exchange will close its markets on a day of mourning across the United States to commemorate President Carter’s life of dedication to the country.”

Nasdaq President Tal Cohen also said, “We mourn the passing of President Carter and will close the US market on a national day of mourning to commemorate his outstanding contributions to the country and the world.”

Jimmy Carter, who served as president of the United States from 1977 to 1981, lost his 1980 re-election bid to Ronald Reagan. A former Navy veteran who later became Georgia’s 76th governor, Mr. Carter earned widespread respect after leaving office by founding the Carter Center and working on humanitarian issues around the world for more than 40 years.

While the US stock market is known for its holiday-averse nature - it is closed for a day and a half even on Christmas Day - it has been a tradition for hundreds of years to mourn a (former) president.

According to US media, this tradition began with the assassination of President Lincoln in April 1865. In addition, the US market was closed during the funeral of former President Ulysses Grant in 1885, and then closed for mourning after the assassination of William McKinley in 1901, making “closing to commemorate former presidents” a fixed tradition.

As of today, US Financial Marekt has commemorated 21 deceased US presidents with a holiday. The most recent national day of mourning was on December 5, 2018, to commemorate the death of President George H.W. Bush. In addition, examples of market closures due to disasters or major events include Hurricane Sandy in 2012 and the “9/11” terrorist attacks in 2001.