Markets

What Sandy did to Wall Street

By Jason McCormick

October 31, 2012 / 3:39 PM EDT / CBS News

The trading floor of the New York Stock Exchange is empty as New York's financial district braces for the onslaught of Hurricane Sandy — Richard Drew/AP

The New York Stock Exchange announces that it will close Monday, October 29, and will likely remain shuttered through Tuesday due to dangerous conditions related to a Category 1 hurricane, then barreling toward the Eastern Seaboard.

Wall Street prepares for superstorm Sandy Oct. 28, 2012—

A subway station across the street from the New York Stock Exchange appears boarded up on October 28, 2012, a day before Hurricane Sandy made landfall in the U.S. The storm, which weakened from a hurricane to a post tropical storm hours before it reached — Timothy A. Clary/AFP/Getty Images (image), Jason Henry McCormick/CBS (text)

A subway station, its entrance boarded up, on Broad Street across from the New York Stock Exchange in Manhattan a day before the expected arrival of Hurricane Sandy.

New York Stock Exchange extends closure Oct. 29, 2012—

Sandbags barricade the New York Stock Exchange on October 29, 2012, ahead of the arrival of superstorm Sandy. — Andrew Burton/Getty Images (image), Jason Henry McCormick/CBS (text)

The New York Stock Exchange confirms its extended closure because of the imminent arrival of Sandy, whose winds remain at hurricane strength.

Wall Street quiet ahead of Sandy Oct. 29, 2012—

Sandbags are piled in front of the New York Stock Exchange and a close-by subway entrance October 29, 2012 as New Yorkers prepare for Hurricane Sandy — Timothy A. Clary/AFP/Getty Images

The financial district in lower Manhattan appears abandoned on Monday before superstorm Sandy's arrival. The storm is downgraded from hurricane status hours before the cyclone sweeps into New York.

New Yorkers hunker down before Sandy's arrival Oct. 29, 2012—

The closed New York Stock Exchange is barricaded with sand bags during the arrival of Hurricane Sandy on October 29, 2012. — Richard Drew/AP (image), Jason Henry McCormick/CBS (text)

Sandbags barricade the New York Stock Exchange on Monday, as a hurricane Sandy bears down on Manhattan. When the storm makes landfall in New Jersey, it hurricane becomes the first of 10 hurricanes in the Atlantic ocean this year to reach the U.S.

Sandy makes landfall Oct. 29, 2012—

The statue of George Washington at Federal Hall watches over the New York Stock Exchange on October 29, 2012, as superstorm Sandy sweeps Wall Street. — Richard Drew/AP (image), Jason Henry McCormick/CBS (text)

The statue of George Washington at Federal Hall watches over the New York Stock Exchange on Monday, before the arrival of superstorm Sandy.

Wall Street shuts down Oct. 29, 2012—

The New York Stock Exchange, which had initially planned to allow electronic trading to resume on Monday, announces its extended shutdown, which applies to all trading.

Sandy reaches Wall Street Oct. 29, 2012—

Superstorm Sandy surges through New York Monday night. The storm floods Manhattan's financial district, including tunnels, subways and electrical infrastructure.

New York Stock Exchange closes for second straight day Oct. 30, 2012—

The streets surrounding the New York Stock Exchange are deserted as financial markets remain closed on Oct. 30, 2012, for the second straight day due to superstorm Sandy. — Richard Drew/AP (image), Jason Henry McCormick/CBS (text)

The stock exchange's extended closure marks the first time since 1888 that it has shut down trading for two straights days due to weather.

Clean-up begins after Sandy Oct. 30, 2012—

Clean up begins outside the New York Stock Exchange the morning after superstorm Sandy swept through the Financial District of New York City. — Timothy A. Clary/AFP/Getty Images (image), Jason Henry McCormick/CBS (text)

After Sandy rips New York City, the effort to clear up the area around the New York Stock Exchange begins on Tuesday.

Jason McCormick

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What Sandy did to Wall Street

Wall Street prepares for superstorm Sandy <span class="credit" style="font-size:.85em;display:block">Oct. 28, 2012—</span>

New York Stock Exchange extends closure <span class="credit" style="display:block">Oct. 29, 2012—</span>

Wall Street quiet ahead of Sandy <span class="credit" style="display:block">Oct. 29, 2012—</span>

New Yorkers hunker down before Sandy's arrival <span class="credit" style="display:block">Oct. 29, 2012—</span>

Sandy makes landfall <span class="credit" style="display:block">Oct. 29, 2012—</span>

Wall Street shuts down <span class="credit" style="display:block">Oct. 29, 2012—</span>

Sandy reaches Wall Street <span class="credit" style="display:block">Oct. 29, 2012—</span>

New York Stock Exchange closes for second straight day <span class="credit" style="display:block">Oct. 30, 2012—</span>

Clean-up begins after Sandy <span class="credit" style="display:block">Oct. 30, 2012—</span>

Wall Street prepares for superstorm Sandy <span class="credit" style="font-size:.85em;display:block">Oct. 28, 2012&#8212;</span>

New York Stock Exchange extends closure <span class="credit" style="display:block">Oct. 29, 2012&#8212;</span>

Wall Street quiet ahead of Sandy <span class="credit" style="display:block">Oct. 29, 2012&#8212;</span>

New Yorkers hunker down before Sandy's arrival <span class="credit" style="display:block">Oct. 29, 2012&#8212;</span>

Sandy makes landfall <span class="credit" style="display:block">Oct. 29, 2012&#8212;</span>

Wall Street shuts down <span class="credit" style="display:block">Oct. 29, 2012&#8212;</span>

Sandy reaches Wall Street <span class="credit" style="display:block">Oct. 29, 2012&#8212;</span>

New York Stock Exchange closes for second straight day <span class="credit" style="display:block">Oct. 30, 2012&#8212;</span>

Clean-up begins after Sandy <span class="credit" style="display:block">Oct. 30, 2012&#8212;</span>