The nation's major stock exchanges observed moments of silence Wednesday in memory of President Gerald Ford, who died Tuesday at 93.

The New York Stock Exchange delayed the start of trading by two minutes at 9:30 a.m. EST, with traders and NYSE employees standing in silence on the floor of the exchange. The Nasdaq Stock Market observed two minutes of silence at 11 a.m.; although the Nasdaq has no central trading floor, it asked traders to refrain from making any transactions during that time.

The nation's stock markets traditionally have closed on the day of a president's funeral. The exchanges said they were waiting for details of Ford's funeral to be released before announcing their own plans.