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- Due to Juneteenth, US stock markets will be closed on June 19.
- Banks and the US Postal Service will also be closed.
- Juneteenth, a federal holiday since 2021, commemorates the end of slavery in the United States.
In observance of Juneteenth, U.S. stock markets will be closed on Wednesday, June 19, 2024. This is the second time since the day was recognized as a federal holiday that the financial sector will be closed in honor of this significant day.
Both the Nasdaq and the New York Stock Exchange will close their doors and resume normal operations on Thursday, June 20. The U.S. bond market will also observe the holiday, the Securities Industry and Financial Markets Association confirmed. Banks will also be closed on June 19.
While financial markets and banks will remain closed, most restaurants, grocery stores and retail stores will remain open. However, banks and the U.S. Postal Service will suspend services for the day.
Commemoration of Juneteenth
Juneteenth, sometimes referred to as America's second Independence Day, commemorates the day in 1865 when Major General Gordon Granger arrived in Galveston Bay, Texas, with 2,000 Union troops. Granger's arrival and the proclamation that followed declared the more than 250,000 enslaved black people in Texas free, putting into effect President Abraham Lincoln's Emancipation Proclamation of January 1, 1863. This event occurred two and a half years after the signing of the proclamation and underscores the long-running struggle for freedom and equality.
Juneteenth was recognized as a federal holiday in 2021.
The federal government's recognition of Juneteenth was seen as a crucial step in recognizing the importance of freedom and equality for all Americans.
Impact on financial markets
The closure of banks and stock exchanges on June 19 reflects the importance of this holiday in the national consciousness. Normal banking and trading activities will resume on June 20.
Some markets, such as the cryptocurrency market, remain open for trading.
After the Juneteenth holiday, the next scheduled closure of the stock exchanges is on Thursday, July 4, to mark Independence Day. This break between the two holidays allows the markets to stabilize and continue their activities without major interruptions.
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