The economic effects arising from the September 11 attacks were initial shock causing global stock markets to drop sharply.

The opening of the New York Stock Exchange NYSE was delayed after the first plane crashed into the World Trade Center 's North Tower, and trading for the day was canceled after the second plane crashed into the South Tower.

Money A2Z

NASDAQ also canceled trading. The New York Stock Exchange was then evacuated as well as nearly all banks and financial institutions on Wall Street and in many cities across the country.

Research: Insider Trading

The London Stock Exchange and other stock exchanges around the world were also closed down and evacuated in fear of follow-up terrorist attacks. The New York Stock Exchange remained closed until the following Monday.

This was the third time in history that the NYSE experienced prolonged closure, the first time being in the early months of World War I [2] [3] and the second being March during the Great Depression. Trading on the United States bond market also ceased; the leading government bond trader, Cantor Fitzgeraldwas based in the World Trade Center.

The Federal Reserve issued a statement, saying it was "open and operating.

The discount window is available to meet liquidity needs. Currency trading continued, with the United States dollar falling sharply against the EuroBritish poundand Japanese yen.

In international and domestic markets, stocks of companies in some sectors were hit particularly hard. Online travel agencies particularly suffered, as they cater to leisure travel. Only a few insurers offer such coverage, and it is limited and very expensive. Flights were grounded in various places across the United States and Canada that did not necessarily have the operational support in place, such as dedicated ground crews.

A large number of transatlantic flights landed in Gander in Newfoundland and retained earnings difference cash dividends affect HalifaxNova Scotiawith the logistics handled by Transport Canada in Operation Yellow Ribbon.

Share prices of airlines and airplane manufacturers plummeted after the attacks.

Midway Airlinesalready on the brink of bankruptcy, shut down operations almost immediately afterwards. Other airlines were threatened with bankruptcy, and tens of thousands of layoffs were announced in the week following the attacks. The reduction on air travel demand caused by the attack is also seen as a contributory reason to the retirement of the only supersonic aircraft in service at the time, Concorde.

Tourismhotel occupancy and air travel also fell drastically across the nation. From this, she concluded that "Most participants felt more distress 65 percent stock market during 9/11 a stronger fear of flying 55 percent immediately after the event than they did before the attacks. The economic effects were mainly focused on the city's export economy sectors.

Global financial markets in freefall and 'lower than after 9/11' with Donald Trump predicted to win US election - Mirror Online

Approximately 18, small businesses were destroyed or displaced after the attacks. The September 11 attacks also led directly to the U. The earnest money in nc were also cited as a rationale for the Iraq war. From Wikipedia, the free encyclopedia. A Retrospective Assessment" PDF. The New York Times. Planning September 11, World Trade Center collapse Remainder of September October Post-October.

American Airlines Flight 11 United Airlines Flight American Airlines Flight 77 United Stock market during 9/11 Flight 93 Suspected hijackings Korean Air Flight 85 Delta Air Lines Flight Responsibility Motives Hijackers 20th hijacker Trials.

War games Patriot Day The Falling Man Raising the Flag at Ground Zero Tourist Guy hoax Iraq War Twin Towers 2 Henryk Siwiak homicide Disappearance of Sneha Anne Philip. Book Category Portal WikiProject. The Mississippi Bubble South Sea Bubble of Panic of Panic of — Panic of Panic of Panic of Panic of Panic of Black Friday Panic of Paris Bourse crash of Panic of Encilhamento Panic of Panic of Panic of Panic of Depression of —21 Wall Street Crash of Recession of —38 Brazilian markets crash —74 stock market crash Souk Al-Manakh stock market crash Japanese asset price bubble — Black Monday Rio de Janeiro Stock Exchange collapse Friday the 13th mini-crash s Japanese stock market crash Dot-com bubble — Asian financial crisis October 27,mini-crash Russian financial crisis.

List of stock market crashes and bear markets. Retrieved from " https: Aftermath of the September 11 attacks Economic crises in the United States Stock market crashes.

Navigation menu Personal tools Not logged in Talk Contributions Create account Log in. Views Read Edit View history. Navigation Main page Contents Featured content Current events Random article Donate to Wikipedia Wikipedia store.

Economic effects arising from the September 11 attacks - Wikipedia

Interaction Help About Wikipedia Community portal Recent changes Contact page. Tools What links here Related changes Upload file Special pages Permanent link Page information Wikidata item Cite this page.

This page was last edited on 18 Mayat Text is available under the Creative Commons Attribution-ShareAlike License ; additional terms may apply. By using this site, you agree to the Terms of Use and Privacy Policy.

Privacy policy About Wikipedia Disclaimers Contact Wikipedia Developers Cookie statement Mobile view.