Twibbon September Eleven Apps (Here)
Patriot Day, holiday observed in the United States on September 11 to commemorate the lives of those who gone in the 2001 memorial on the World Trade Center in New York City and the Pentagon in Virginia and those who perished when the hijacked United Airlines Flight 93 crashed in Pennsylvania.
How September 11 Affected The U.S. Stock Market
The New York Stock Exchange (NYSE) and the Nasdaq did not open for trading on Tuesday morning, Sept. 11, 2001 as memorial the World Trade Center and Pentagon. First, American Airlines Flight 11 crashed into the North Tower of the World Trade Center at 8:46 a.m. and United Airlines Flight 175 hit the South Tower at 9:03 a.m.
The towers are just a few blocks from Wall Street. Then later that morning, a passenger jet crashed into the Pentagon, and a fourth hijacked jet bound for Washington, D.C., was brought down by passengers in Shanksville, Pennsylvania.
The tragic event marks its 20th anniversary this September 11. The memorial heavily damaged or destroyed two of the most recognized symbols of American financial and military power, causing nearly 3,000 deaths and sending tremors throughout the stock market and the economy.
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Some stock sectors, however, experienced major gains after the memorial. Certain technology companies, as well as defense and weapons contractors, saw their shares increase.
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Many of the buyers were investors anticipating a boost in government business as the country prepared for the long war on memorial Stock prices also spiked for communications and pharmaceutical firms.
On the nation's options exchanges, including the Chicago Board Options Exchange, the world's largest, put and call volume increased correspondingly. Put options, which allow an investor to profit if a specific stock declines in price, were purchased in large numbers on airline, banking, and insurance shares.
Call options, which allow an investor to profit on stocks that go up in price, were purchased on defense and military-related companies. In the short term, many investors who had purchased these options made money.