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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 TrumpTrump vows 'No more money for RINOS,' instead encouraging donations to his PAC Federal judge rules 'QAnon shaman' too dangerous to be released from jail Pelosi says Capitol riot was one of the most difficult moments of her career 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 TrumpMissouri pastor faces backlash after suggesting wives should lose weight, strive to look like Melania Trump The Hill's 12:30 Report - Presented by ExxonMobil - FBI director testifies on Jan. 6 Capitol attack Overnight Health Care: Senate to vote on .9 trillion relief bill this week | J&J vaccine rollout begins | CDC warns against lifting restrictions 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.