I don't have details. I don't know what the hell is going on.
biz.yahoo.com
A plane crashed in NY.
Global Markets Slide After NY Plane Crash
By Gerrard Raven
LONDON (Reuters) - News that an airliner had crashed in the Queens area of New York reignited jitters over the vulnerability of the U.S. economy to terror attacks on Monday, sending shares and the dollar tumbling.
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Investors rushed to the safe haven of government bonds as market professionals worked for the second time in just over two months against the background of televisions showing billowing smoke rising over the ``Big Apple.''
The blue-chip Dow Jones Industrial Average (.DJI) fell 166 points or 1.73 percent to 9,440 shortly after the opening, while the Nasdaq Composite Index (.IXIC) fell 45 points, or 2.46 percent to 1,783.59.
In Europe, the FTSE Eurotop 300 index (.FTEU3) index was down almost 3.5 percent in the immediate aftermath of the crash, but by 1445 GMT, about half an hour after the crash, its losses had been trimmed to 2.1 percent.
The airline sector, which has seen traffic fall sharply since the September 11 attacks on the World Trade Center in New York and on the Pentagon in Washington, reacted badly. British Airways (quote from Yahoo! UK & Ireland: BAY.L) fell 10.6 percent.
``We don't know specifics, but watching the market pullback here is a sign that investors are still sensitive to this kind of news. Hopefully, it's unrelated to the terrorist attack in September,'' said Gary Thayer, chief economist at AG Edwards in London.
European currencies rose against the dollar, with the euro adding 3/4 cent to trade around $0.90 and the Swiss franc, a traditional safe haven in times of turmoil, rising half a centime to 1.6233 to the dollar.
The dollar also tumbled to a one-month low against the yen of below 119.75 following the crash.
European government bond and short-term interest rate futures soared with the German two-year Schatz (DE2YT-RR) was yielding 2.98 percent, down 7.5 basis points.
``People are getting into bonds for safety, and they are saying 'here we go again'. There is not the disbelief that followed the September 11 events. People are on high alert,'' said a trader in London.
COMEX gold futures jumped to a 3-1/2 week high in New York.
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