10 scary market moments

1. 9/11 (Sept. 11, 2001)

9/11 was undoubtedly one of the most unnerving moments in the history of U.S. markets — and the history of the U.S. as a whole. The attacks forced the closures of markets including the New York Stock Exchange, NASDAQ, London Stock Exchange and New York Mercantile Exchange. The tragedy also caused brief spikes in commodities such as gold and oil. Although the Dow dropped precipitously when most major markets reopened on Sept. 17, stock prices had almost reached pre-attack levels by mid-October.

For some financial firms, though, the losses involved far more than money: Cantor Fitzgerald, a leading government bond trader headquartered on the 101st-105th floors of One World Trade Center, lost more employees than any other company in the attacks, 650 in all.

 

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