scroll to top
Stuck on your essay?
Get ideas from this essay and see how your work stacks up
Word Count: 613
The shock to financial markets from the devastating plane attacks in the United States could have huge repercussions for an already-fragile world economy Stock markets around the world plunged and oil prices soared after two planes crashed into the World Trade Centre in New York and another plane slammed into the Pentagon in Washington DC Nervous investors fled to the safe haven of government bonds as the uncertainty from the wave of what seemed like terrorist attacks spread around the world Not only the US economy but also world economy cannot remain untouched from the drastic aftermaths of the attacks on WTC Most Affected Sectors Insurance airline operators travel agents and hotel groups have especially suffered by the economic turmoil stemming from 11 Septembers attacks and have joined the ranks of technology media and telecom firms in investors bad books Overall the impact was dramatic One of the UK companies worst hit was British Airways whose stock lost one fifth of its value after the terrorist attacks making it the worst performer in the benchmark FTSE 100 index Gainers Food pharmaceutical and defense stocks traditionally benefit during times of civil unrest and war Any tension in the Middle East will definitely push up the price of oil Although the Organization of Petroleum Exporting Countries OPEC has capped oil prices at 25 a barrel crude was trading at 27 Barclays Stockbrokers have forecasted that oil firms BP and Shell will benefit from the rise Security companies and specialist telephone companies trading on the US market have also done well since the terrorist attacks Gold bullion is traditionally seen as a safe haven in times of stock market volatility And since the attacks last week prices have risen to an 18-month high People in economies affected close to Afghanistan are also likely to turn to gold but not in its bullion form Converting cash into jewellery is one-way people try
@Kibin is a lifesaver for my essay right now!!
- Sandra Slivka, student @ UC Berkeley
Wow, this is the best essay help I've ever received!
- Camvu Pham, student @ U of M
If I'd known about @Kibin in college, I would have gotten much more sleep
- Jen Soust, alumni @ UCLA