The FT leads with a report that security was tightened around the world as governments swung in...
The FT leads with a report that security was tightened around the world as governments swung into alert mode and tried to take in the full effect of the terrorist attacks on the US, which left thousands dead and plunged that nation into crisis. Surprise raids on the World Trade Center in New York and the Pentagon in Washington paralysed the federal government, air transport and financial markets and stunned the world.
The FT also writes that trade on European equity markets was volatile shortly after the open on Wednesday, following the previous day's terrorist attacks in the US which paralysed the country's financial markets. With US markets still shut on Wednesday and the resumption of trade there uncertain, European markets were expected to remain turbulent, with investors seen likely to favour safe-haven instruments.
US exchanges will remain closed on Wednesday, writes the FT, following the lead of the New York Stock Exchange, Nasdaq and the American Stock Exchange. After consultation with the Securities and Exchange Commission, San Francisco's Pacific Exchange, the Philadelphia Stock Exchange, and the Chicago Stock Exchange all said they would be shut on Wednesday, following the attacks on New York and Washington. The Chicago Mercantile Exchange said Tuesday's after hours trading had been suspended.
Global financial markets reacted with horror to the terrorist attacks, with share prices plunging and investors rushing for the safe havens of gold and government bonds. Amid scenes of panic and confusion, US traders and financial analysts evacuated their desks as the Securities and Exchange Commission ordered stock markets to stay closed. US bond, gold and oil markets also stopped trading.
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