Wall Street also drew some support from overseas trading. London's FT-SE 100 index was up 2.4 per cent, while Frankfurt's DAX index rose 4.3 per cent. Japanese markets were closed for a holiday. Analysts are predicting trading will be choppy at best for the foreseeable future. This is a time when the basic economic fundamentals did not look good to start with, and these attacks did not help.
Investors are just nervous.
But that has yet to happen. With reserve troops mobilising, military equipment headed to the Persian Gulf and President George W Bush talking about a war on terrorism, the economic and business climate has changed. Although companies were reducing staff before, many of the newest layoffs are being blamed on the attacks. In the past two weeks, airlines and other business have announced more than 100,000 job cuts and reduced profit forecasts, citing business losses caused by the twin tragedies and the uncertainty of what is to come. Copyright 2000 Times Internet Limited.