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This Day In Market History: NYSE Reopens For First Time After 9/11 Attacks

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This Day In Market History: NYSE Reopens For First Time After 9/11 Attacks

Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date.

What Happened: On this day in 2001, the New York Stock Exchange reopened for the first time since the Sept. 11 terrorist attacks.

Where The Market Was: The Dow Jones Industrial Average closed at 8,920.70 and the S&P 500 traded at 1,038.77.

What Else Was Going On In The World: In 2001, the U.S. withdrew from the 1972 Anti-Ballistic Missile Treaty. The summer months were known as the “Summer of the Shark” after several shark attack fatalities. The average cost of a new car was $25,850.

Return To Normalcy

Wall Street demonstrated its resiliency on Sept. 17, 2001, when the NYSE reopened for the first time following the World Trade Center attack in Manhattan. The U.S. markets were closed for four days, the single longest closure since 1933.

Investors were understandably rattled by the shocking events, and the Dow finished the day down 7.13%. The first day of trading following Sept. 11 represented the single worst day in the Dow’s history in terms of points lost (684), and it was the 14th worst day in terms of the percentage drop.

The market quickly bounced back. By Dec. 11, 2001, the S&P 500 was trading 3.8% higher than it was prior to the attack.

Related Link:

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