All U.S. stock and options markets will close Monday as Hurricane Sandy approaches, reversing course as Wall Street braces for the storm to barrel through the heart of the country's financial center.

The decision, made late Sunday night, leaves U.S. stock markets closed for weather conditions for the first time in nearly three decades. The New York Stock Exchange had previously planned on closing only its physical trading floor, while allowing for trading on its Arca electronic exchange. It has now decided to halt all trading.

The NASDAQ and BATS stock markets, which are built on electronic trading, also decided to close. The CME Group, which operates the NYMEX commodities exchange, said earlier Sunday that it would close its physical trading floor Monday, though trading would continue on its electronic trading platforms.