This Letter describes the results of the most recent measurement of the permanent electric dipole moment (EDM) of neutral ^{199}Hg atoms. Fused silica vapor cells containing enriched ^{199}Hg are arranged in a stack in a common magnetic field. Optical pumping is used to spin polarize the atoms orthogonal to the applied magnetic field, and the Faraday rotation of near-resonant light is observed to determine an electric-field-induced perturbation to the Larmor precession frequency. Our results for this frequency shift are consistent with zero; we find the corresponding ^{199}Hg EDM d_{Hg}=(-2.20±2.75_{stat}±1.48_{syst})×10^{-30}e cm. We use this result to place a new upper limit on the ^{199}Hg EDM |d_{Hg}|<7.4×10^{-30}e cm (95% C.L.), improving our previous limit by a factor of 4. We also discuss the implications of this result for various CP-violating observables as they relate to theories of physics beyond the standard model.
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