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The Effects Of The 9/11, 2001 Attacks On Business Confidence and Financial Markets - Essay Example

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The Effects Of The 9/11, 2001 Attacks On Business Confidence and Financial Markets

Those involved in the news media, along with CEOs and the everyday average business worker, experienced the pain of losing loved ones, not to mention the business disruptions that took place. In the immediate aftermath, most people tried to get through this tragedy by restoring a sense of normalcy as soon as possible. The purpose of this Essay is to examine the effects of the 9/11 attacks on business confidence and financial markets. This paper will build on existing studies by other experts who have previously studied these issues. The 9/11 attacks affected the financial markets and business confidence on a broad range of levels that were surprising to say the least. In terms of stocks and bonds, we must consider what occured at the New York Stock Exchange (NYSE). There were immediate electronic interruptions, not to mention the direct threat to infrastructure. Both of these issues were of immense concern to the New York financial and trading community. Even though the 9/11 attacks were horrific enough in themselves, the physical impact of the attacks is not the subject of this paper. Instead, this paper will focus on the impact of the 9/11 attacks on the foreign exchange and derivative markets, business confidence, and the effects of monetary policy. Additionally, the focus will also be on the responses to the shockwaves, if any, that rippled the business community many years after the event. INTRODUCTION One cannot differentiate financial markets from the economy. Safety issues along with the fear of future similar terrorist attacks occurring again on American soil set the stage for increased security concerns. More than this, business management teams as well as workers and investors across the country had security concerns that went way beyond infrastructure. Can electronic, software, and hardware disruptions result in unparalleled losses? It can be said that the real impact of the 9/11 attacks on the financial world may have been the immediate disruption of the New York exchange markets, loss of communications, and the horrific loss of life, all of which represented a big blow to the supply-side values of the financial and business world. As it has only been ten short years after the 9/11 attacks, it is perhaps still too early and in some cases too painful to conduct a comprehensive investigation of what the consequences of those shocking events were. This would best be done with an examination of the full range of financial markets. The issue is still relatively sensitive because of the types of questions and accusations surrounding the beneficiaries of certain trading efforts in the stock exchanges. These parties are accused of placing winning put trades and options on airline stocks shortly before the tragic attacks. It would seem as though some investors had foreknowledge that particular stock of certain airlines would dramatically plummet on that fateful day. However, for the subject of this paper, we will flesh out a sensible recounting of the effects of monetary policy responses to the shock of 9/11. This will rely heavily on Congressional Research Reports and information derived from the Federal Reserve. The financial markets and the effects of monetary policy responses to the horror of the 9/11 terrorist attacks in New York had varying, if not ...Show more


First and Last Name Professor’s Full Name Subject Name 5 August 2011 The Effects of the 9/11 Attacks on Business Confidence and Financial Markets EXECUTIVE SUMMARY The attacks that occurred on September 11, 2001 sent shockwaves around the world. This catastrophic event that caused great emotional devastation and the mass loss of life was something that Americans had never witnessed firsthand before…
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The Effects Of The 9/11, 2001 Attacks On Business Confidence and Financial Markets essay example
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