Americans are celebrating Columbus Day Monday.Columbus Day is a federal holiday observed on the second Monday in October, marking the anniversary of the arrival of Christopher Columbus to the Americas. Columbus, an Italian explorer sailing under the Spanish flag, led four expeditions to the New World, but never accomplished his original goal -- to find a western ocean route to Asia. Instead, Columbus ushered in a new era in world history by opening up the Americas to exploration.
Columbus Day became a U.S. holiday in 1971. It is generally observed by banks, state government offices, the Postal Service and federal agencies. The bond markets are closed for the holiday, but many businesses and stock exchanges remain open.