Hurricane Sandy: Closed New York Stock Exchange Reverberates Around the World

The World

The New York Stock Exchange shut down Monday, the first time since the September 11th terrorist attacks.

Host Lisa Mullins talks with Andrew Hilton, director of the Center for the Study of Financial Innovation about the economic impact the shutdown will have oversees that may not occur to most Americans

Hilton says shuttering the New York Stock Exchange puts New York in a very vulnerable position because markets in London and Asia could try to steal away listing companies.

Hilton believes Wall Street should look to develop a electronic stock market where trading can continue despite extreme weather events.

He says this event is not catastrophic, but it does jack up the cost of doing business.

Do you support journalism that strengthens our democracy?

At The World, we believe strongly that human-centered journalism is at the heart of an informed public and a strong democracy. We see democracy and journalism as two sides of the same coin. If you care about one, it is imperative to care about the other.

Every day, our nonprofit newsroom seeks to inform and empower listeners and hold the powerful accountable. Neither would be possible without the support of listeners like you. If you believe in our work, will you give today? We need your help now more than ever!