Stocks rise on bin Laden’s death

But real economic problems remain

North American stock markets opened higher Monday morning in the wake of news that Osama bin Laden, the mastermind behind the 9/11 attacks, was killed in Pakistan by U.S. Forces. The Dow Jones Industrial Average, a measure of a group of blue-chip U.S. companies, was up by about a half a per cent in early trading. Meanwhile, the value of precious metals such as silver—typically considered a safe place for investors to park their money in uncertain times—fell by as much as 13 per cent at one point. But experts say bin Laden’s death may not do much to reduce the terror threat level against the U.S.—in fact, some argue that it could actually increase if members of al-Qaeda, the terrorist group bin Laden led, seek reprisals. Even so, the impact on the global economy will likely be far less than more run-of-the-mill economic forces, including rising oil and other commodity prices coupled with a weak U.S. dollar.

BBC News

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