Any significant event always has an impact in the stock market, one way or another. It can somewhat influence the rise or the fall of the stocks because oftentimes, emotions are the basis for trade decisions. A lot of people in the stock market business have expected the stock market to rise due to the announced and confirmed death of the terrorist leader, Osama bin Laden.
Reports say that the dollar came to a rally after the announcement, the oil price decreased and the stock market futures also had a boost. However, it didn’t last very long. In spite of that, some traders are still optimistic about the market movement due to this incident.
Kathleen Brooks, the research director of Forex.com said, “Going forward (bin Laden’s death) will have more of a political impact than a financial impact. It will be interesting to see if the death of bin Laden will impact U.S. foreign policy and if it could reduce defense spending. If that were to happen, it would help U.S. public finances, but that is only hypothetical at this stage.”
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