12 SEPTEMBER 2001

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Terror grips America

Chaos in the markets followed as news filtered through major news stations that four commercial planes were hijacked and deliberately flown into chosen targets in the United States.

Yesterday morning at around 9am New York time, two commercial airlines were crashed into the twin towers at the World Trade Centre and soon after the heart of the US military at the Pentagon in Washington.

Another commercial plane crashed near Pittsburgh, Pennsylvania, apparently unable to hit its unknown target.

All four planes carried 260 passengers and crew members, there were no survivors.

America was in shock as the extent of the tragedy started to surface, The Trade Centre had a capacity of up to 50,000 employees.

The culprits of this well organised crime were unknown.. First reports blamed a Palestinian splinter group, but this could not be confirmed.

The Taliban government in Afghanistan acted quickly to denounce the acts of violence.

World leaders, including Blair, Putin, Prodi and Chirac condemned the terror.

And the markets reacted to the news. The New York Stock Exchange closed soon after the tragedies at the Trade Center, home to major corporations and corporate business.

The news saw the dollar dropping to 1 cent above the euro. Oil soared to over 30 dollars per barrel and shock waves hit European markets.

The ailing world economy faced an unprecedented new crisis as the terror gripped the administration and with it the future.

 



The Business Times, Network House, Vjal ir-Rihan San Gwann SGN 07
Tel: (356) 382741-3, 382745-6 | Fax: (356) 385075 | e-mail: editorial@networkpublications.com.mt