U.S. News

U.S. markets to close on Wednesday in honor of George H.W. Bush

Dec 1, 2018; Atlanta, GA, USA; President George H. W. Bush is honored prior to the SEC championship game between the Alabama Crimson Tide and the Georgia Bulldogs at Mercedes-Benz Stadium. Mandatory Credit: Jason Getz-USA TODAY Sports

WASHINGTON (Reuters) - Major U.S. markets will be closed on Wednesday in honor of former U.S. President George H.W. Bush.

The New York Stock Exchange and Nasdaq will both close on Wednesday in observance of the National Day of Mourning after Bush’s death Saturday at the age of 94.

Both the NYSE and Nasdaq will also observe a moment of silence at 9:20 a.m. ET on Monday.

U.S. President Donald Trump on Saturday ordered the federal government to close on Wednesday out of respect for Bush.

Federal Reserve Chairman Jerome Powell is scheduled to testify on Wednesday on the economic outlook before the congressional Joint Economic Committee. A spokesman for the committee did not immediately respond to questions on Saturday about whether the hearing would be rescheduled.

Reporting by David Shepardson; editing by Jonathan Oatis