Friday, November 17, 2017

9/11 Recession

On September 11th 2001, I was only 4 years old. I've lived with the tragedy of 9/11 all my life, at first being to young to fully understand what happened to later constantly being reminded of it. Generally, most of the information I found the last few weeks I knew before researching or believed without having full knowledge of the facts. There were, however, a number of new facts that I learned about 9/11 that encouraged my research and point of view. One of the most surprising facts I discovered about my topic was that the stock market closed for 4 days following the attack causing many stocks to drop to historic lows and prolonged the ongoing recession. This was the longest the stock market was closed since the Great Depression. The recession had also began months earlier in the beginning of 2001 due to the Y2K scare. The market continued to slowly decline the next few years as the Dow hit new all time lows and unemployment reached 6 percent at the recessions peak (Amadeo).

Work cited 

Amadeo, Kimberly, "How the 9/11 Attack the Economy Today," thebalance.com, Sep. 11, 2017, 11/16/17

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