Registered: Oct 2000
Location: Wetaskiwin AB, Canada
Posts: 1438

Markets In Turmoil Worldwide

International Stock Markets Tumble After Terror Attacks On U.S.
Oil Tops $30 A Barrel; Gold Price Soars
U.S. Markets Closed

NEW YORK, Sept. 11, 2001

AP
(CBS MarketWatch) International stock markets plunged Tuesday and oil soared past $30 a barrel after terrorist attacks in New York collapsed the World Trade Center towers and set the Pentagon in Washington aflame.

U.S. stock trading was closed, while markets in London, Frankfurt, Paris, Stockholm, Amsterdam, Toronto and elsewhere slumped in the wake of the attacks. The U.S. dollar fell against the yen, euro and other currencies, and gold soared over $290 an ounce.

"I'm not thinking of buying or selling anything, and I'm not even in New York," said Stephen Gauthier, a fund manager at the Montreal offices of Pictet & Co., a Swiss fund management firm with about $70 billion in assets.

"It is far too early to talk about the financial implications," Gauthier said. "People are talking about the death toll and not about finance. What we are seeing in the price of gold and oil is to be expected."

CBSNews.com

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Both Trade Center towers collapsed Tuesday morning after a single two-engine plane slammed into one tower, then, about half an hour later, a second plane ploughed into the neighboring tower. Televised pictures clearly showed that at least one plane hit the Trade Center on purpose. Minutes later, an explosion also occurred at the Pentagon.

President Bush, reacting after the explosions, indicated it was an apparent terrorist attack. He said the U.S. would launch a full-scale investigation and track down the perpetrators.

No one was available to comment at the NYSE, which is located several blocks away from the Trade Center. The Nasdaq stock market was also closed.

The Federal Reserve said it was prepared to inject liquidity into the monetary system.

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Registered: Apr 2001
Location: Virginia Beach, VA
Posts: 1480

damn! america has enough shit on its hands. last thing we need is for the value of the dollar to plummet.

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Registered: Jan 2001
Location: California
Posts: 4252

Gold will cruise up for a short while.

Silver will do better.

The stock market has been on the verge of a crash all year.

All of the significant stock market crashes have happened in October.

I think the stock market is a highly risky place to have any money. People realize that and are buying gold overseas. If gold breaks $350 for more than a few days it will go through the roof, possibly to $500. If it doesn't get high enough to wipe out the short positions gold will not be a good investment. Silver has huge potential.

I predict the Nasdaq will hit 1000 in October if not sooner.

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