Markets react, or not, to Belgium terrorist attack

As of this time, no one is claiming responsibility for the terrorist attacks in Belgium. And though specifically directed at a key global financial hub, the response in the markets worldwide has been muted. No markets plunging, most are just fractionally down and a few are showing slight gains.

The seemingly well organized group of individuals who carried out these attacks almost certainly had in mind striking Brussels because of both its financial and symbolic importance. But the fact that the markets are calm has made a strong statement to the terrorists and the world. Part of it is that the general public has reached a certain terrorism attack fatigue. We recoil and feel sadness. We support efforts to combat and defeat the evil. But our lives have to go on. And so business not directly impacted by such attacks, also goes on.

The world has witnessed this before to a much greater degree. Think of England and World War II. Think of Israel throughout its history. Terrorism is a fact of life but not the victor over life.

After 9-11, President George W. Bush met publicly with Muslim religious leaders, stressing that our country was not at war with Islam and Muslims. He also rallied workers doing the unthinkable work in the debris of the Twin Towers. But he also did something that received an avalanche of criticism. He told Americans to go out and shop. Pretty profound when you think of it. Keep living life. Allow for all of us to keep providing for our families. Don’t let the hate change us. It now seems the world has learned some of this lesson.

 

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