Stocks, Dollar Surge on bin Laden Death

Market celebrates in early trading
By Mary Papenfuss,  Newser User
Posted May 2, 2011 1:49 AM CDT
Traders work at the Stock Exchange in Hong Kong.   (Getty Images)

(Newser) – Stocks and the dollar surged in early trading after news hit the world that the US has taken out Osama bin Laden. Futures on the Standard & Poor’s 500 Index rose 0.5% in Tokyo, and the MSCI Asia Pacific Index added 0.5%, putting it on track for the highest close since mid-January, reports Bloomberg. Oil prices, gold, and silver dropped. The Dollar Index, which tracks the bill against six other currencies, was up 0.3%. Bin Laden's death is likely reassuring buyers and boosting consumer confidence, noted observers. But the fallout could be increased concerns about retaliatory attacks. (Click for more on bin Laden, who was buried at sea.)

My Take on This Story
Show results without voting  |