The Times Square intersection was closed and Nasdaq building, along with two others were evacuated within two hours after a suspicious van was reportedly parked for two days on the Broadway.
However, no bombs were found inside the van, which was examined using robots and remote cameras by the police.
Times Square, where traditional New Year's Eve festivities and the dropping of a large lit ball at midnight on Dec 31, is held takes place is already packed with tourists and police officials.
In Nasdaq, trade was going on uninterrupted with minimal impact.
"There was a quick small sell-off in equities which would be more attributable to people closing some positions in fear of an electronic breakdown rather than initiating speculative short positions," said Joe Kinahan, chief derivatives strategist at TD Ameritrade.