New York Stock Exchange Closed, Federal Government Closed...Former President Carter's condolences.

The New York stock market was closed and federal departments were put on temporary closure as former President Jimmy Carter's funeral was designated as a "National Day of Mourning."

The temporary closure is a "Monthly tradition" that has been around since 1865, the National Public Radio (NPR) said, adding that the New York Stock Exchange had been closed for several days after former President Abraham Lincoln was assassinated.

The U.S. stock market has since been temporarily closed to pay condolences on the former president's funeral day, with the most recent example being the funeral day of former President George H.W. Bush on Dec. 5, 2018.

Although it is rare for the stock market to be temporarily closed during the week, there is a precedent for it to be closed to deal with risks during the Sept. 11, 2001, and during Hurricane Sandy damage in late October 2012.

However, among U.S. financial markets, the bond market opens at 9 a.m. and closes early at 2 p.m. as it was.