Proof that American Resolve is Bigger than Any Terrorist Attack
As America wakes up to the aftermath of Monday’s dual bombing in Boston that left three people dead and more than 100 injured, law enforcement agencies are trying to piece together what happened. There are currently no suspects in what is now being called a terrorist event.
Here at Benzinga, our thoughts and prayers go out to the victims and their family.
In a testament to the resiliency of the American spirit, in the wake of the 9/11 tragedy, the country went back to work, determined not to let the actions of a few cripple it with fear.
Looking at our country through the lens of Wall Street, have events like Monday’s been able to affect the financial markets? Here are four terrorist events and how the S&P 500 reacted in the following seven days.
First World Trade Center Bombing
On February 26, 1993, an Al Qaeda group placed a truck bomb below the North Tower of the World Trade Center. The bombing killed six and injured more than 1,000 people. Seven days after the event, the S&P had gained 0.62 percent, closing at 446.11.
Oklahoma City Bombing
On April 19, 1995, a truck bomb outside the Alfred P. Murrah Federal Building killed 168 people and injured hundreds more. It destroyed or damaged 324 buildings over a 16 block area causing an estimated $652 million in damages. Seven days later, the S&P had gained 1.53 percent closing at 512.66.
Centennial Park Bombing
On July 27, 1996, a bombing in Centennial Park in Atlanta, Georgia, killed two people and injured 111 during the 1996 Summer Olympic Games. Three pipe bombs were detonated during a concert where thousands of spectators had gathered. In the seven days after the bombing, the S&P had lost 0.68 percent to close at 667.68.
September 11, 2001
Nobody will forget the events of September 11, 2001 where four aircraft were hijacked, killing nearly 3,000. Two of the aircraft brought down the two towers of the World Trade Center, one slammed into the Pentagon, and the final aircraft went down in a field in Pennsylvania after some of the aircraft’s passengers heroically attempted to overtake the hijackers.
The stock market was closed from September 11 to September 17. Seven days after the market opened, it had lost only 8.15 percent. The S&P would go on to finish the year 5.08 percent higher—a testament to the resiliency and resolve of the American people and its economy.
Do you live in the Boston area and want to somehow lend a hand? Do you want to take some time to watch the coverage of the event instead of keeping a close eye on your portfolio? Do you want to look for ways to make a donation to those affected? Go ahead and do it because as we can see, no cowardly attack on the American way of life is going to affect the spirit of its people or the health of its markets. Your portfolio will be just fine.
Want to know how to help? Read this article on takepart.org.
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