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See attached for some historical perspective, if such is at all possible.
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Title: Days that Live in Infamy (updated with chart) | markethistory.com | historical market intelligence
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DJIA
Days that Live in Infamy (updated with chart)
By Gibbons Burke- 9/11/2001
Here's another look at what happens to the Dow when we have had war provoking or serious terrorist acts against U.S. targets. We've added the dates of the Lockerbie airplane crash in 1988 and the 1995 bombing of the Murrah Federal Building in Oklahoma City. The table below lists the value of the Dow on the date the event happened, the net and percent change on that date. The t+n columns show the returns in the four days following the attack.
The chart below shows the percent return over the next 30 days after such attacks. The sad fact is that capitalist economies tend to profit during wartime - war is bullish.
Howver, this latest attack has taken place on the center of the U.S. financial industry. The Commodity Exchange Center is located in the World Trade Center complex. 155 companies, many of them Wall Street firms, are headquartered there, so this is an extremely destabalizing event from a financial point of view. The ripple effects of this and the consequences that will ripple outward like shock waves have yet to be imagined.
Let variable values:
theSec = DJIA
theEvent = IF
Date is 5/7/1915
OR
Date is 12/7/1941
OR
Date is 12/21/1988
OR
Date is 2/26/1993
OR
Date is 4/19/1995
THEN 1
ENDIF
Date Day Dow Net Net% t+1 t+2 t+3 t+4
05/07/1915 Fri 65.13 -3.10 -4.543 -7.293 -0.384 -0.184 3.961
12/05/1941 Fri 115.90 -0.70 -0.600 -4.590 -6.575 -7.722 -2.701
12/21/1988 Wed 2164.64 -1.43 -0.066 0.083 0.602 1.931 3.424
02/26/1993 Fri 3370.81 5.67 0.168 1.002 1.691 2.989 2.052
04/19/1995 Wed 4207.49 28.36 0.679 2.195 3.937 4.685 5.113
Avg 1984.79 5.76 -0.873 -1.721 -0.146 0.340 2.370
AvgPos 1984.79 17.02 0.424 1.093 2.077 3.202 3.637
AvgNeg NaN -1.74 -1.737 -5.942 -3.479 -3.953 -2.701
PctPos 100.00 40.00 40.000 60.000 60.000 60.000 80.000
PctNeg 0.00 60.00 60.000 40.000 40.000 40.000 20.000
Maximum 4207.49 28.36 0.679 2.195 3.937 4.685 5.113
Minimum 65.13 -3.10 -4.543 -7.293 -6.575 -7.722 -2.701
StdDev 1875.61 13.06 2.103 4.040 3.937 4.840 3.040
ZStat 1.06 0.44 -0.415 -0.426 -0.037 0.070 0.779
Variance 3517909.57 170.68 4.423 16.320 15.498 23.426 9.244
5 OccurrencesXMIM Query Source
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