Turbulence looks at how the New York Stock Exchange (NYSE), fared before, during and after Hurricane Sandy. Our initial assumption was that the financial services industry in downtown Manhattan was very well prepared for the storm as compared with other sectors of the economy. We set out to answer two questions:
We quickly began to realise that the NYSE was not as well prepared as we initially assumed. As a result of business choices made years before the hurricane, the NYSE was forced to halt trading for two days during the storm, leading to a domino effect of other stock exchanges unnecessarily closing.