|
8775838d2e34446b94ef53b08d56833a28.jpg
Major U.S stock and bond markets were closed again on Tuesday, a day after Hurricane Sandy swept through New York City.
The area around Wall Street was part of the mandatory evacuation zone. And with the storm surge, water rose above sea walls flooding streets in lower Manhattan.
This is the first time since 1888. The bad weather is forcing the New York Stock Exchange to close for two consecutive days.
The timing of the storm could be difficult for Wall Street. At the end of each month, fund managers price their portfolios for clients.
Market Analyst Michael Farr, author of the Arrogance Cycle says losing two days of trading can make it difficult to assess the real value of stocks and mutual funds.
“They have to be priced with real market time prices. If you don’t have a real market print, you have to show the last close. So you really don’t get a real accurate sense.”
Experts say closing the stock market can have an impact on world markets.
“And it’s kind of bringing a lot of commerce to a halt, not completely, of course.”
Damages caused by Hurricane Sandy are estimated at 20 Billion, plus 30 billion more in loss business, according to IHS Global Insight, a financial forecaster.
Some economists say the storm could cut 0.6 percent from U.S economic growth in the fourth quarter of the year. | 
发表于 2016-8-2 11:26:01