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Posted by Forbes:
The NYSE will close its trading floor tomorrow [Monday], the first weather-related closure in 27 years, as Hurricane Sandy barrels down on Manhattan.
Trading on the Big Board will shift to the NYSE Arca exchange, which is not based near New York, says NYSE spokesman Ray Pellecchia. The NYSE opened the day after Hurricane Irene’s Sunday arrival last year: This time, the major difference is that Hurricane Sandy will hit on a Monday, and transportation will stay offline, Pellechia says.
Related News From USA Today
As emergency management officials prepare for Hurricane Sandy’s assault on the East Coast, they’re doing more than making evacuation plans and mobilizing assets. They’re also trying to convince millions of people from North Carolina to Maine of the storm’s destructive potential and urging them not to take it lightly.
Forecasters say Sandy is an enormous storm — some 800 miles across — with Category 1 level winds of 75 mph and the potential to wreak billions of dollars in damage and unleash destructive storm surges across a broad swath of the eastern USA.
The problem is, some people in the storm’s path evacuated for Hurricane Irene last year only to be met by more punishing winds and floods further inland. This year, many of them are staying put.