9/11 Then and Now

Billy Odell Tucker-Robinson Founder & Host — Banking With Billy Network • Financial Intelligence • Markets • World News • Independent Analysis
Published: 2026-09-09 • Permanent link

The 9/11 attacks on the World Trade Center in New York City on September 11, 2001, sent shockwaves across the global financial markets. The Dow Jones Industrial Average plummeted 684.81 points, or 7.1%, to close at 9,035. The attack was a catalyst for a decade-long period of financial turmoil, marked by the War on Terror, the subsequent wars in Afghanistan and Iraq, and a global recession. The attacks led to a significant increase in defense spending, with the US government allocating $400 billion for the wars in Afghanistan and Iraq between 2001 and 2008.

The impact of the 9/11 attacks on the global economy cannot be overstated. The resulting wars and the subsequent economic downturn led to a decline in consumer spending, resulting in a 3.5% decline in global GDP between 2001 and 2003. The decline in consumer spending had a ripple effect on businesses, leading to a significant increase in unemployment, with the US unemployment rate rising from 4.9% in 2001 to 6.1% in 2003. The decline in consumer spending also led to a decline in corporate profits, with the S&P 500 index falling by 34% between 2001 and 2003.

The 9/11 attacks marked a turning point in the global economy, as the world became increasingly interconnected. The attacks led to a significant increase in international trade, with global trade rising by 20% between 2001 and 2003. However, the attacks also led to a decline in economic confidence, with the World Economic Forum's Global Risks Report ranking terrorism as the number one risk to the global economy in 2003. The report highlighted the need for governments and businesses to work together to address the growing threat of terrorism.

As the world marks the 25th anniversary of the 9/11 attacks, investors and policymakers are left to ponder the risks and opportunities ahead. The ongoing conflict in Ukraine and the rising threat of terrorism continue to pose significant risks to the global economy. However, the attacks also highlighted the need for governments and businesses to work together to address the growing threat of terrorism. As the global economy continues to evolve, it is likely that the impact of the 9/11 attacks will be felt for years to come.