NEW YORK (CNN/Money) - Financial markets will be closed Friday for the state funeral of former President Ronald Reagan, who died last week after a long battle with Alzheimer's disease.

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The New York Stock Exchange, the Nasdaq stock market and the American Stock Exchange will remain closed for the full day, exchange officials said.

The bond market will also be closed. And the two biggest commodities and futures markets, the Chicago Board of Trade and the New York Mercantile Exchange, also will be closed.

Friday has been declared a national day of mourning for Reagan, with the federal government closed, including the Securities and Exchange Commission.

The NYSE has traditionally closed for all or part of its session for the funeral of a U.S. president, the last time on April 27, 1994, when it closed for the full day for Richard M. Nixon's funeral.

Other examples include the funeral of Lyndon B. Johnson in 1973, Harry S. Truman in late 1972, Dwight D. Eisenhower in 1969 and John F. Kennedy after his assassination in 1963.

Reagan became the first sitting president to visit the NYSE on March 28, 1985, when he addressed the trading floor about his economic plan, the exchange said. He also visited the Big Board in May 1992 with former Soviet Union President Mikhail Gorbachev as part of the NYSE's bicentennial commemoration.

The exchange, in a brief statement, called Reagan a "great champion of free people and free markets."

U.S. markets observe a moment of silence for former President Ronald Reagan prior to Monday's opening. Play video (Real or Windows Media)

The NYSE added that "its thoughts and sympathy are with President Reagan's family and loved ones."

Reagan has been called the most influential president since Franklin D. Roosevelt and remained a towering presence in American politics despite his 10-year absence from public life after his battle with Alzheimer's was disclosed.

For a look at CNN/Money's report on his impact, click here.

For CNN.com's in-depth coverage, click here.

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The former president's body, which has been lying in state in the U.S. Capitol's rotunda since Wednesday evening, will be taken Friday to the National Cathedral for a public funeral service. After the ceremony, the Reagan family will accompany the body back to Simi Valley, Calif., for a private sunset burial at the presidential library.