The New York Stock Exchange was closed for four months during the 1914 market crisis.
The exchange suspended trading on July 31, 1914, shortly after the outbreak of World War I. Officials feared that unrestricted selling by foreign investors would drain gold from the United States and destabilize international finance. The closure was an extraordinary response to wartime uncertainty and cross-border capital pressure.
Trading in bonds resumed earlier, but unrestricted stock trading did not return until December 12, 1914. The exchange’s reopening helped restore a functioning market, although special arrangements and restrictions shaped the transition.
This closure is often confused with ordinary market holidays or with temporary suspensions after later crashes. It was far longer than a normal interruption and was directly connected to the outbreak of World War I, making it one of the most unusual episodes in NYSE history.