The flag-draped casket of former President George H.W. Bush is carried by a joint services military honor guard to Special Air Mission 41 at Ellington Field during a departure ceremony Monday, Dec. 3, 2018, in Houston. (Photo: AP)

Major US 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.

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