Stock markets to close for a day to honor George H.W. Bush

The New York Stock Exchange (NYSE) and the Nasdaq will close on Wednesday to honor former President George H.W. Bush following his death, spokespeople confirmed Saturday.

NYSE spokeswoman Kristen Kaus told The Hill that the exchange will also observe a minute of silence on Monday in honor of the late president, who died on Friday.

The Nasdaq will also observe a moment of silence on Monday, with spokesman Will Briganti saying it "plans to close its U.S. equities and options markets on December 5 in honor of the national day of mourning."

President TrumpDonald John TrumpCorsi sues Mueller for alleged leaks and illegal surveillance Comey: Trump 'certainly close' to being unindicted co-conspirator Trump pushes back on reports that Ayers was first pick for chief of staff MORE has called for a national day of mourning on Wednesday and ordered flags to be flown at half-staff for 30 days following Bush's death.

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U.S. financial markets typically close following the death of a president. The last time the NYSE had such a closure was in 2007 after former President Gerald Ford died.

The White House said Saturday that Trump and first lady Melania TrumpMelania TrumpJohn Kelly was always doomed to fail as chief of staff Trump to help impoverished nations educate their children Internet gambling addiction is a looming crisis MORE would also attend funeral services for the late president at the National Cathedral in Washington, D.C. Specifics on the funeral have not yet been released.

Bush's family announced the former president's death on Friday in a statement released by his son, former President George W. Bush. No cause of death has been given. He was 94 years old.

Updated: 12:15 p.m.