Markets Closed on Tuesday

    The statue of George Washington at Federal Hall is displayed near the front of the New York Stock Exchange, Monday, Oct. 29, 2012. Hurricane Sandy continued on its path Monday, forcing the shutdown of mass transit, schools and financial markets, sending coastal residents fleeing, and threatening a dangerous mix of high winds and soaking rain. There had been plans to allow electronic trading to go forward on the New York Stock Exchange but with a storm surge expected to cover parts of lower Manhattan in water, officials decided late Sunday that it was too risky to ask any personnel to staff the exchanges. (AP Photo/Richard Drew)

    Richard Drew / AP Photo

    Hurricane Sandy brought the financial world to its knees as well, with the stock market closing Tuesday, for the second straight day, in the aftermath of the hurricane. Wall Street worried about whether the markets will open by Wednesday, the last day of trading for the month of October,— when traders price portfolios. Economists said the massive storm is unlikely to cause financial damage as severe as 2005’’s Hurricane Katrina, and the damage to the economy should be short-lived. But, economists warned, gross domestic product in the Northeast is about $2.5 trillion, and every day the region is shut down could cost about $10 billion in forgone output.