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12/26/03 4:40 PM

#186048 RE: onedrill #186023

One would think it would make a big difference, but.... do you remember back to November 2001, when that Airbus crashed on takeoff from Kennedy? The crash became known about 9:15, and the Market opened down. Then, within ten minutes, the Market went straight up and closed higher for the day. The straight-up move happened while it still seemed pretty clear that the crash was caused by either a bomb or a missile, and well before the turbulence explanation came out.

What I'm getting at is that the Market has the ability to completely ignore really, really bad news. If that plane really had been taken out by terrorists, it would have meant bankruptcy for all the air carriers, as well as their suppliers, the hotel chains, etc. The overall economic effect would have been devestating.