Covid Shut Down the NYSE

In early 2020, just as we were all adjusting to the covid-19 pandemic, the New York stock exchange found itself shutting down as well. It was March when it shut down so the system could transition over to electronic trading and therefore remove the requirement for everyone to share a floor and perhaps expose themselves to the virus. After two Covid-positive tests, the decision was made.

After being shut down for just over two months, the exchange reopened in May 2020 with security measures in place to allow individuals to come back, including masks and social seclusion exactly as everyone else was meant to be doing. However, the majority of people stayed at home to work.

According to a person knowledgeable about the NYSE's intentions, the decision to remain open for two more days is intended to promote a smooth transition and avoid interfering with stock trading during a period of elevated volatility.

The famous Big Board, also known as the historic exchange, has briefly shut down in response to previous emergencies, including the aftermath of 9/11. But this will mark the first time that trading will continue while the real trading floor, famous for its lively traders, is closed off.