9-11 and The New York Stock transfer

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No event in American history was as dramatic as the attacks of September 11, 2001. When the attack on Pearl Harbor happened, we had live radio broadcasts bringing updates, and the next days newspaper how photographs of the carnage, but with 9/11, we had live, crystal clear television pictures beamed right into our living rooms. While we still take pause to think of that horrendous day, the world's financial markets took a hit like they never have before as the ripple corollary from Ground Zero was felt all colse to the world.

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When the attacks happened, and because of how close the World Trade Centers were placed to Wall Street, trading wasn't even started. Everybody that had shown up to work that day was told to stay inside until it was safe. Many habitancy inside the transfer reported feeling the ground shake as the two towers collapsed, and the transfer became a refuge for those fleeing the giant cloud of dust, smoke and debris that appeared once the towers fell.

The buildings that hold the New York Stock transfer were not damaged while the attacks, but a major telephone bunker than held the phone ideas for the entire area placed near the World Trade town was severely damaged, hence production communication on the floor of the transfer impossible.

The stock shop remained accomplished until September 17. It would turn out to be the longest that the shop would remain accomplished since 1933 and the Great Depression. while it's first day of trading after the attacks, the shop lost over 680 points, the particular biggest one day drop in the exchanges history. While the drop only accounted for a itsybitsy over 7 percent, it is still considered a major event. By the end of that first week back open, the Dow Jones had lost over 1360 points or 14 percent of its value. It would go down as the worst week in shop history. The total money losses while that time were estimated to be colse to 1.2 trillion.

The events of September 11 led to a dramatic increase in protection colse to the exchange, as many feel it could be a target in future attacks. The events of 9/11 will live on in the minds of Everybody who lived straight through it. For those who had shown up for a day at work on Wall Street, the event is difficult to forget. The Nyse came straight through it stronger and so did the nation.

The preceding is the first in a series of articles based on the New York Stock Exchange. Many habitancy ask why a firm that assists individuals in obtaining unsecured lines of firm reputation would put out artcles of this type. The uncomplicated retort to this is because many clients use a quantum of their lines (or the profits their lines create) to dabble or spend in the stock market. We feel if this is what a client will be doing, we want them to be as fully ready as possible.

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