Equity trading was suspended in the US today as Hurricane Sandy approached New York City with 70-mile an hour winds and a threat of an 11 foot sea surge.
The Securities and Exchange Commission (SEC) moved to shut down Wall Street trading floors today and may extend the closure through to 30 October, Bloomberg reports. The SEC's decision follows an earlier one by the New York Stock Exchange. Wall Street is home to 13 exchanges and 170,000 securities industry employees. The NYSE and the Nasdaq are among those suspending operations to protect workers. Options trading was also suspended on major derivatives exchange the Chicago Board Options Exchange (CBOE). The storm, being referred to as 'Frankenstorm' in media reports, is expected to co...
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