News Column

Markets Derailed for 2nd Day

Oct. 30, 2012
wall street

U.S. markets bowed to the muscle of Hurricane Sandy Tuesday, closing for the second consecutive day in a nearly unprecedented reaction to Mother Nature.

It was the first time in 124 years, dating back to 1888, that equity trading stopped for an unscheduled weather emergency for more than one day. It was also the first unscheduled closing since the terrorist attacks of Sept. 11, 2001.

Electronic trading of metals and energy commodities continued, but equity trading remained sidelined, as it was on Monday.

On the New York Mercantile Exchange, December delivery West Texas Intermediate crude oil held to less than $86 per barrel, adding 35 cents to $85.89.

Equity markets were mixed in Asia and mostly higher in Europe.

The Nikkei 225 index in Japan lost 0.98 percent while the Sensex in India fell 1.1 percent. The Hang Seng index in Hong Kong dropped 0.38 percent while the Shanghai composite index in China gained 0.17 percent.

In Britain, the FTSE 100 index gained 0.85 percent while the Dax 30 in Germany added 0.92 percent. The CAC 40 in France gained 1.24 percent while the Stoxx Europe 600 index climbed 0.74 percent.

Source: Copyright United Press International 2012

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