Jakarta –
The United States was rocked by a terror attack, on September 11, 2001. The attack occurred because a plane belonging to a US airline was hijacked and there was a suicide attack. The attack had a negative impact on the US economy.
The tragedy of 9/11 occurred when the World Trade Center (WTC) building in New York City and the Pentagon in Washington DC were hit by two hijacked planes. The WTC building then collapsed and the incident killed nearly 3,000 people.
Quoted from Investopedia, Saturday (11/9/2021), all economic sectors to businesses were affected after the incident. The US stock market plunged up to 10%, and many airlines even declared bankruptcy.
The WTC in New York City is home to many other trading, brokerage, and financial firms, including the NYSE and Nasdaq. Due to the terror incident, both companies closed market trading until September 17. The closure is the longest since 1933.
On the first day of NYSE trading after 9/11, the stock was down 684 points, down 7.1%. The decline was the biggest loss in history in the company’s single trading day.
The Dow Jones fell nearly 1,370 points, representing a loss of more than 14%.3, The Standard and Poor’s (S&P) Index slumped 11.6%. An estimated US$1.4 trillion was lost in five trading days at the time.
The stock market plummeted, investors flocked to sell all their shares. Airline airlines were hit because passenger volume stagnated until a number of companies declared bankruptcy.
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