New York Stock Exchange Reopens Trading Floor After 2-Month Closure

New York Stock Exchange Reopens Trading Floor After 2-Month Closure”

Traders cheered as Governor Andrew Cuomo rang the opening bell of the Stock Exchange, which had been closed since March when the state shut down in the face of the virus.

New safety measures will require traders to wear masks and avoid public transportation, while plexiglass barriers have been erected to promote social distancing.

A few members of the state Senate and Assembly were expected to travel to Albany to debate and vote on bills from their offices or the chambers while most lawmakers will participate from home through video and teleconference.

The Dow Jones Industrial Average was up more than 500 points on Tuesday, or just over 2%.

"As trading on this iconic floor recommences, NY is showing the nation that we will lead the lead way", said Cuomo, who has turned his attention to re-opening NY.

"With the cases in New York City on a decline and with what we've learned about how to protect ourselves from COVID-19, we feel like we can create an environment that reduces risk for people to come back into the trading floor and provide the service they're typically used to providing", Cunningham said.

Floor brokers will wear masks.

Traders wearing masks work on the first day of in person trading since the closure during the outbreak of the COVID-19 on the floor at the New York Stock Exchange in New York United States

New York City has been hit hard, with more than 20,000 deaths from COVID-19, the illness caused by the coronavirus, and many businesses remain closed as the most populated us city remains under lockdown. States should open up ASAP. It was shuttered for the Blizzard of 1888, at the start of World War I in 1914, for former President Ronald Reagan's funeral in 2004, after the September 11, 2001, terrorist attacks, and for Hurricane Sandy in 2012.

"The New York Stock Exchange facade is the face of capitalism, and the economy more broadly, and so recognizing the fact that we can set an example for how America should reopen slowly, cautiously, flexibly, ready to move as needed is an important thing for our economy", she explained.

NYSE Chief Commercial Officer John Tuttle said: 'The floor represents so much more than the several tens-of-thousands of square feet it occupies.

(The coronavirus has led to more than 1.66 million infections in the United States and at least 98,200 deaths.) It switched to a fully electronic trading system but operated under normal hours without interruption.

There was some optimism about the race for a vaccine.

The World Health Organization said that the world remains mired in only the first stage of the pandemic, putting a damper on hopes for a speedy global economic rebound. Europe has recorded about 170,000 deaths, while the USA was approaching 100,000 in a span of less than four months, more than the number of Americans killed in the Vietnam and Korean wars combined.

The paper additionally stated Intercontinental Exchange had actually asked companies, consisting of significant financial institutions, that utilize investors on the flooring to concur to give payment if any type of claims develop.

More news: Cuomo: front line workers must receive death benefits

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