Storm brings economy of US East Coast to a halt
WASHINGTON (AFP) - Hurricane Sandy froze commerce, shut down stock exchanges for the first time since 9/11 and idled millions of workers on Monday, laying siege to an economy still trying to get out of first gear.
With the US east coast from North Carolina to Massachusetts threatened by furious winds and a potentially devastating storm surge, businesses closed, refiners shut down operations and insurers girded for a leap in damage claims.
The New York Stock Exchange and the Nasdaq market shut completely on Monday and will stay closed on Tuesday, with operations expected to resume Wednesday, "conditions permitting," the NYSE added.
It was the first full trading closure since the Sept 11 attacks closed US equity markets for four days in 2001, and the first full NYSE shutdown due to weather since September 1985, when Hurricane Gloria closed it for a day.