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Wall Street's opening bells will remain silent on Thursday.

The New York Stock Exchange and the Nasdaq will both close for trading today, as the financial industry joins a 

 for former President Jimmy Carter. The global humanitarian 

, at age 100, and will be eulogized at a state funeral today in Washington.

The rare mid-week trading shutdown continues a Wall Street tradition that goes back to 1865. After President Abraham Lincoln was assassinated, the New York Stock Exchange closed for days.

Since then, the U.S. stock markets have regularly shuttered to mourn deceased presidents. The last such 

When Carter died, the financial industry "collectively made a decision to honor what he's done, the service he's provided as president — and after he's been president," says Tal Cohen, president of 

 Carter's "lifetime of service to our nation" in a press release announcing her exchange's closure for today.

Not all financial markets are taking the day off: Bond markets 

 until 2 p.m., according to a recommendation from the SIFMA trade association for investment banks and asset managers.

It's rare for the stock market to close in the middle of the week. And it's not always planned: Both the NYSE and the Nasdaq closed in reaction to the 

Cohen tells NPR that the Nasdaq had some time to prepare for today, as Carter died almost two weeks ago. His company made its plans with other exchanges, regulators, and other parts of the financial industry.

"It was a large undertaking," he says. "But we thought it was worth the effort."

Business and Economic News

Politics and Government News

Maria Aspan

Author

The New York Stock Exchange and the Nasdaq will both observe Thursday's national day of mourning in a Wall Street tradition dating back to 1865.

U.S. stock markets close to honor former President Jimmy Carter

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