Published date: 12th Sep 2001, The Strait Times

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Following the attacks, trading was shut down across the US and are not likely to resume for at least several days 

NEW YORK The US financial markets came to a halt yesterday and many other stock exchanges around the world suspended trading or closed, following terrorist attacks on the World Trade Center and Pentagon in the United States.  

The US Securities and Exchange Commission said all exchanges had decided to close. The announcement followed a suspension of trading on the New York Stock Exchange and Nasdaq Stock Market. The American Stock Exchange had already decided to close for the day.  

“As a safety precaution, while the tragic events of today are sorted out, the securities markets have decided not to open for trading today, SEC chairman Harvey Pitt said in a statement. “We strongly support that decision.  

Preliminary estimates were that it would be at least sever trading all days before summed because of the extent reef the damage done to the World Trade Center and the surrounding businesses.  

The World Trade Center is located a few blocks from the New York Stock Exchange in the area known as the Financial District. Its two towers were among the tallest skyscrapers in the world and a distinctive part of the city’s skyline prior to their collapse yesterday morning.  

The New York Mercantile Exchange, where energy futures are traded, is in the nearby World Financial Centre, which was not hit directly in the plane assault.  

Additionally, many of the nation’s investment firms have at least some of their operations in the area, and the extent of the physical and emotional wreckage could limit their ability to restart quickly.  

Thousands of companies sent their employees home for the day, putting tens of thousands of New Yorkers into the streets after public transportation was shut down.  

Business and trading in other parts of the country also were affected. The Chicago Board of Trade suspended all trading.  

Overseas, some European stock markets closed yesterday. The London Stock Exchange evacuated its building but said trade would continue from an alternative site.  

None of Frankfurt’s skyscrapers were evacuated and trading continued as share prices tumbled.  

In Asia, the Taiwanese authorities announced that they were closing the domestic stock and foreign exchange markets, and Malaysian Prime Minister Datuk Seri Dr Mahathir Mohamad said the Kuala Lumpur Stock Exchange would be closed today.  

Hongkong television reported that the financial authorities did not plan to suspend trading in the regional financial centre when markets reopen today.  

— AP, AFP,  

REUTERS