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Do not fill this in! === Economic === {{Main|Economic effects of the September 11 attacks}} [[File:Deficits vs. Debt Increases - 2008.png|thumb|[[United States federal budget|U.S. deficit]] and [[United States public debt|debt]] increases in the seven years following the attacks from 2001 to 2008]]The attacks had a significant economic impact on the United States and world markets.<ref>{{cite web |last=Makinen|first=Gail |url=https://fas.org/irp/crs/RL31617.pdf |title=The Economic Effects of 9/11: A Retrospective Assessment |page=17 |date=September 27, 2002 |publisher=Congressional Research Service, [[Library of Congress]] |access-date=September 4, 2011 }}</ref><ref>{{cite web |last=Davis |first=Mark |date=August 24, 2022 |title=The Impact of 9/11 on Business |url=https://www.investopedia.com/financial-edge/0911/the-impact-of-september-11-on-business.aspx |access-date=July 23, 2023 |website=Investopedia }}</ref> The stock exchanges did not open on September 11 and remained closed until September 17. Reopening, the [[Dow Jones Industrial Average]] (DJIA) fell 684 points, or 7.1%, to 8921, a record-setting one-day point decline.<ref>{{cite news |title=Markets reopen, plunge |last=Barnhart |first=Bill |url=http://www.chicagotribune.com/business/chi-010917markets,0,5287650.story|work=Chicago Tribune |date=September 17, 2001 |access-date=April 11, 2012}}</ref> By the end of the week, the DJIA had fallen 1,369.7 points (14.3%), at the time its largest one-week point drop in history. In 2001 dollars, U.S. stocks lost $1.4{{spaces}}trillion in valuation for the week.<ref name="MarkDec">{{cite news|last=Fernandez |first=Bob |title=U.S. Markets Decline Again |work=KRTBN Knight Ridder Tribune Business News |date=September 22, 2001}}</ref> In New York City, about 430,000 job months and $2.8{{spaces}}billion in wages were lost in the first three months after the attacks. The economic effects were mainly on the economy's export sectors.<ref>{{cite journal |last1=Dolfman |first1=Michael L. |last2=Wasser |first2=Solidelle F. |journal=Monthly Labor Review |volume=127 |year=2004 |title=9/11 and the New York City Economy}}</ref><ref name="IAGS cost">{{cite web |title=How much did the September 11 terrorist attack cost America? |url=http://www.iags.org/costof911.html |access-date=April 30, 2014 |publisher=Institute for the Analysis of Global Security}}</ref><ref name="PEARL9/11">{{cite book |last=Morgan |first=Matthew J. |url=https://books.google.com/books?id=JDEfUCll7DcC |title=The Impact of 9/11 on Politics and War: The Day that Changed Everything? |date=August 4, 2009 |publisher=Palgrave Macmillan |isbn=978-0-230-60763-7 |page=222}}</ref> The city's GDP was estimated to have declined by $27.3{{spaces}}billion for the last three months of 2001 and all of 2002. The U.S. government provided $11.2{{spaces}}billion in immediate assistance to the [[Government of New York City]] in September 2001, and $10.5{{spaces}}billion in early 2002 for economic development and infrastructure needs.<ref name="crs-5">{{cite web|last=Makinen|first=Gail |url=https://fas.org/irp/crs/RL31617.pdf |title=The Economic Effects of 9/11: A Retrospective Assessment |page=5 |date=September 27, 2002 |publisher=Congressional Research Service, [[Library of Congress]] |access-date=September 4, 2011 }}</ref> Also hurt were small businesses in [[Lower Manhattan]] near the World Trade Center (18,000 of which were destroyed or displaced), resulting in lost jobs and wages. Assistance was provided by [[Small Business Administration]] loans; federal government Community Development Block Grants; and Economic Injury Disaster Loans.<ref name="crs-5" /> Some {{convert|31900000|sqft|m2}} of Lower Manhattan office space was damaged or destroyed.<ref>{{cite web |last=Hensell |first=Lesley |title=Tough Times Loom For Manhattan Commercial Market |url=http://realtytimes.com/rtpages/20011214_downtown.htm |website=Realty Times |date=December 14, 2001 |access-date=September 4, 2011 |url-status=dead |archive-url=https://web.archive.org/web/20110814003420/http://realtytimes.com/rtpages/20011214_downtown.htm |archive-date=August 14, 2011 }}</ref> Many wondered whether these jobs would return, and if the damaged tax base would recover.<ref>{{cite web |last=Parrott |first=James |title=The Employment Impact of the September 11 World Trade Center Attacks: Updated Estimates based on the Benchmarked Employment Data |publisher=The Fiscal Policy Institute |date=March 8, 2002 |url=http://www.fiscalpolicy.org/Employment%20Impact%20of%20September%2011_Update.pdf |access-date=September 4, 2011 |archive-date=September 11, 2011 |archive-url=https://web.archive.org/web/20110911170813/http://www.fiscalpolicy.org/Employment%20Impact%20of%20September%2011_Update.pdf |url-status=dead }}</ref> Studies of 9/11's economic effects show the Manhattan office real-estate market and office employment were less affected than first feared, because of the financial services industry's need for face-to-face interaction.<ref>{{cite SSRN |last=Fuerst |first=Franz |title=Exogenous Shocks and Real Estate Rental Markets: An Event Study of the 9/11 Attacks and their Impact on the New York Office Market|date=September 7, 2005 |ssrn=800006}}</ref><ref>{{cite magazine|last=Russell |first=James S. |title=Do skyscrapers still make sense? Revived downtowns and new business models spur tall-building innovation |magazine=Architectural Record |date=November 7, 2004 |url=http://archrecord.construction.com/innovation/2_Features/0411SkyscraperSense.asp |access-date=September 4, 2011 |url-status=dead |archive-url=https://web.archive.org/web/20110808062854/http://archrecord.construction.com/innovation/2_Features/0411SkyscraperSense.asp |archive-date=August 8, 2011}}</ref> North American air space was closed for several days after the attacks and air travel decreased upon its reopening, leading to a nearly 20% cutback in air travel capacity, and exacerbating financial problems in the struggling [[Airline|U.S. airline industry]].<ref>{{cite web |last1=Bhadra |first1=Dipasis |last2=Texter |first2=Pamela |title=Airline Networks: An Econometric Framework to Analyze Domestic U.S. Air Travel |publisher=[[United States Department of Transportation]] |year=2004 |url=http://www.bts.gov/publications/journal_of_transportation_and_statistics/volume_07_number_01/html/paper_06/ |access-date=September 4, 2011 |archive-url=https://web.archive.org/web/20050330035744/http://www.bts.gov/publications/journal_of_transportation_and_statistics/volume_07_number_01/html/paper_06/ |archive-date=March 30, 2005 |url-status=dead}}</ref> The September 11 attacks also led to the U.S. [[War in Afghanistan (2001–present)|wars in Afghanistan]] and [[Iraq War|Iraq]],<ref>{{cite news|url=https://www.washingtonpost.com/blogs/ezra-klein/post/bin-ladens-war-against-the-us-economy/2011/04/27/AFDOPjfF_blog.html |title=Bin Laden's war against the U.S. economy |newspaper=The Washington Post |date=May 3, 2011 |first=Thomas |last=Heath}}</ref> as well as additional [[homeland security]] spending, totaling at least $5{{spaces}}trillion.<ref>{{cite news|url=https://www.washingtonpost.com/business/economy/osama-bin-laden-didnt-win-but-he-was-enormously-successful/2011/05/02/AFexZjbF_story.html |title=Osama bin Laden didn't win, but he was 'enormously successful' |newspaper=The Washington Post |first=Suzy |last=Khimm |date=May 3, 2011}}</ref> Summary: Please note that all contributions to Christianpedia may be edited, altered, or removed by other contributors. 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