NEW YORK (AP) - Major U.S. stock markets will close Wednesday in honor of former President George H.W. Bush, who died Friday at 94.

The New York Stock Exchange and Nasdaq said over the weekend that they will close trading Wednesday in observance of a national day of mourning for Bush. The federal government will also be closed.

The NYSE also said it will display the U.S. flag that flies above the New York Stock Exchange at half-staff in honor of the former president.

U.S. traders also observed a moment of silence before markets opened on Monday in honor of Bush.

The last time U.S. markets closed outside of a holiday was on two consecutive days in late October 2012 because of Hurricane Sandy. The last closure due to the death of a U.S. president was Jan. 2, 2007, when the markets observed a national day of mourning for President Gerald R. Ford.

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