A day after the worst terrorist attack ever, New York's financial district officials said that US stock markets would remain closed for a third consecutive day as the district attempts to recover.
New York Stock Exchange (NYSE) chairman Richard Grasso said during a press briefing that full or partial equities trading will resume as early as Friday and no later than Monday.
Trading in US Government securities will, however, resume on Thursday. Earlier in the day, the Securities and Exchange Commission (SEC) had indicated that stock exchanges might be able to reopen on Thursday.
The NYSE and Nasdaq met with the SEC, brokerages and New York City officials to decide whether to open.
Lehman Brothers, which is located across the street from the site of the World Trade Center, told some employees to report to offices in New Jersey while Goldman Sachs told some of its employees to stay at home.
A spokesperson for Morgan Stanley Dean Witter said that employees were told to come on a case-by-case basis.
The last time that US stock trading was suspended for more than one session took place in 1933 when President Franklin Delano Roosevelt called for a nationwide banking holiday.
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