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The Boston Globe

Business

Wall Street to reopen Wednesday

NEW YORK — Wall Street is preparing to reopen for business as New York City slowly recovers from the wreckage of Hurricane Sandy.

The New York Stock Exchange and Nasdaq both plan to resume trading Wednesday, following an unprecedented storm that flooded parts of Manhattan and caused widespread power outages.

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The market closed for two days as Hurricane Sandy battered the East Coast, forcing thousands of people to evacuate and causing millions of dollars in damage.

‘‘It’s incredibly important to open these markets,’’ said Miranda Mizen, director of equities research at TABB Group. ‘‘It says New York is open for business.’’

It is rare for the stock markets to close for two days. The last time the New York Stock Exchange did so for weather-related reasons was in 1888.

After terrorists attacked various US landmarks including the World Trade Center in 2001, the NYSE closed for four days.

The reopening was heralded around the world as a sign of the strength of the United States.

‘‘Barring any unforeseen circumstances we will be open,’’ said Larry Leibowitz, chief operating officer of NYSE Euronext, the parent of the Big Board. ‘‘We all see the need to get the exchange working as quickly as we can.’’

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