Big Board to delay Sept. 11 opening by 1 1/2 hours

Memorial services will be occurring then in New York, nation

August 17, 2002|By BLOOMBERG NEWS

NEW YORK -The New York Stock Exchange said yesterday that it will delay opening until 11 a.m. Sept. 11, out of respect for memorial services planned in New York City and across the country on the first anniversary of the worst terrorist attacks in U.S. history.

"On 9-11, New Yorkers and all Americans will honor the victims of 9-11, their families and loved ones, and the heroes of the rescue and recovery efforts," NYSE Chairman and Chief Executive Officer Richard Grasso said in a statement. "It's fitting and appropriate that the New York Stock Exchange remains silent during the memorial service."

The exchange usually opens at 9:30 a.m. Monday through Friday and closes at 4 p.m. The exchange has never taken so much time for a memorial, spokeswoman Robin Verhose said. The last time the exchange opened that late was during a snowstorm in 1996, Verhose said.

The terrorist attacks, in which hijackers flew two airliners into the twin towers of the World Trade Center in Lower Manhattan, another airplane into the Pentagon and crashed a fourth jet in Pennsylvania, killed an estimated 3,100 people.

The planes destroyed the seven-building World Trade Center complex, caused billions of dollars of damage and closed U.S. equities markets for four business days. The NYSE is six blocks from where the World Trade Center stood.

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