The shock to financial markets from the devastating plane attacks in the United States could have huge repercussions for an already-fragile world economy. Stock markets around the world plunged and oil prices soared after two planes crashed into the World Trade Centre in New York and another plane slammed into the Pentagon in Washington DC. Nervous investors fled to the safe haven of government bonds as the uncertainty from the wave of what seemed like …showed first 75 words of 608 total…

…showed last 75 words of 608 total…that the indirect effects might be more substantial, including the possibility of "sustained deterioration in consumer, corporate, and financial confidence, a flight to quality in financial markets that could exacerbate existing weaknesses, and higher oil prices." However, it suggests, “It is too early to quantify the long-term impact of the terrorist attacks, because of the uncertainty of the military situation. Further measures to restore confidence may be necessary, especially since financial markets are remaining volatile.”