Global Terrorism s Impact on International

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The New York Stock Exchange and the NASDAQ Stock Market never opened
for trading on September 11, because of the time of the attack. The U.S. securities markets went back to trading on September 17, with agreements between the private sector and the Securities and Exchange Commission that considered factors such as the safety of the personnel and the viability of the infrastructure and communication systems (Pitt, 2001). Overall, the U.S. stock markets were down throughout the first day of trading, which continued in the following days. Between September 17th and 21st, Standard and Poors 500 index fell by 11.6 percent and the NASDAQ by 16.1 (IMF 2001). The September 11th attacks that were seen across the globe by the major equity markets, experienced acute and fast falls and showed how market participants were shocked by the events. The European stock markets, which started operating before the U.S. markets were opened, had even more declines after September 17th due to spillover effects. In total, the Dow Jones Euro STOXX index fell 17.3 percent between September 11th and the 21st
One of the most immediate costs of a terrorist attack is the lack of ability of continuing production or services,

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