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U.S. stocks close Thursday
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September 12, 2001: 5:01 p.m. ET
NYSE, Nasdaq say they'll resume no later than Monday; could open Friday
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NEW YORK (CNNfn) - The two major U.S. equity exchanges will remain closed Thursday, but say they plan to resume trading no later than Monday -- and possibly Friday -- in the wake of the terrorist attack against the United States.
U.S. Treasury trading will resume Thursday.
At a New York news conference, the leaders of the New York Stock Exchange, Nasdaq Stock Market and U.S. Securities and Exchange Commission said safety concerns in lower Manhattan, where the World Trade Center was destroyed, dictated the delay. The NYSE and many member firms are based in the area; Morgan Stanley, one of the biggest firms, was the largest tenant in the trade center.
Nasdaq Stock Market CEO Hardwick Simmons and New York Stock Exchange Chairman Richard Grasso also said the ability of member firms to effectively communicate transactions to their exchange needed to be assured before trading can resume.
All U.S. security markets have been closed since the attack began Tuesday morning.
The market leaders stressed the idea of resuming securities trading as soon as possible, in part as a symbol of defiance against the terrorists whose actions killed an untold number of people.
"You can attack an infrastructure, but you can't attack an ideal," Grasso said.
SEC Chairman Harvey L. Pitt and Treasury Undersecretary Peter Fisher also attended the news conference. 
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