April 19, 2009 at 3:00 PM
Why is Good Friday a Stock Market Holiday
I had a couple different friends ask me why Good Friday was a New York Stock Exchange holiday but not a bank or Federal holiday. I wrote something for the Kapitall company blog and Reuters.com picked up. My research required me to go back into New York Times archives from a hundred years ago. I have several theories about Good Friday; Felix Salmon quoted my favorite:
“Two or three years in a row during the 1890’s, there was a big drop in the market on Good Friday. Traders took it as a sign from God that he didn’t want the exchange open."