Todays Attack and Economics.

I have been hearing things regarding econimic collapses recently, people fearing that it will happen, and how this could throw things into chaos, etc. I just seen a news repost a minute ago, and the econimic expert said there have been high fall for some currencies, and an estimated £17bn lost as a result of todays attacks.
Now, i have very little knowledge of business and economics, so can this attack effect things to a large extent?

I think what they mean is that investors, a jittery bunch, will sell low and not buy as much as usual, because of fears surrounding the attack. Just like with 911, some of the economic loss was phyiscally due to the attacks, lots was due to money not circulating in the economy properly because of fear.

Or its like when the oil price jumps, investors freak out, sell short, and money is lost to the economic stystem because of it.

I don't think that they are saying that because the London Subway System is shut down that businesses across the globe can't operate.

Of course, London is a big financial center, and anything distrupting the city will have rammificiations.

Interesting that you bring this subject on the attacks in London affecting the economy.

I have been listening the repercussions of oil prices due to the tropical storm and now the Danny hurricane, it seems that the drilling's in the gulf will affect what we are going to pay for gas at the pump.

Funny how the consumer is the one to paid for terrorist and natural disasters but the big CEOs will not lose any of their million dollar bonuses.

Originally posted by PurityOfPeace
can this attack effect things to a large extent?

The EU will be fine. If people allow acts of terror to effect them it will. I think Europeans are much more familiar with these things, though, compared to MOST Americans (Native Indians and African-Americans excluded). I personally see this bombing today as a diversionary tactic (on the part of NOT Islamic fundamentalists). That's all I will say on that here.