September 11, 2001 will forever stand as one of the darkest days in our nation's history. The airliners crashed into the north and south towers of the World Trade Center at 8:46 am and 9:03 am. At 9:43 am a third airliner crashed into the Pentagon. Finally, at 10:10 am Flight 93 crashed into an open field in Pennsylvania. The largest attack on United States soil had occurred and the nation was rattled by the horrible tragedy. 
No American should ever forget that day. The horrific images of the falling buildings, the stories of lost loved ones, and the images of those lost in the attacks will never be erased.
The financial markets stayed closed that year until September 17, 2001. On that day, even though the Fed cut rates and there were cries for patriotism, the markets plunged. The Dow lost 684 points on the day, and the Nasdaq lost 115 points. The 684 point drop for the Dow ranked it the largest point decline ever, but on a percentage basis the decline wasn't in the top 10. The market was clearly shaken by the tragedy and the ecnomic impacts of it, but the fact that the selloff was not historic in nature was telling of an impending recovery that has proved quite amazing.
The resiliency of the financial markets and the U.S. economy as a whole has been very impressive. Smartmoney had a terrific article last year on the 5th anniversary of the attacks, which shows just how well the markets have recovered. Real GDP growth accelerated beginning at the beginning of 2003 and GDP has continued, though on a smaller scale all the way through Q2 of 2007. The U.S. major indices have all gained a large amount of ground since their close on September 17, 2001. The Dow now sits at 13,308, which is 49% higher than its close on September 17th, 2001. The Nasdaq has gained 64% from its close of 1,580 on 9/17/01, while the S&P 500 has gained 42%.
The economy was hit hard by the terror attacks of September 11th, but the economy has proved to be very resilient. On this somber sixth anniversary of those terrible tragedies I felt it would be good to provide this upbeat look at the amazing recovery of our nation's economy.
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