Market Collapse Feared Imminent Following Manhattan & Washington Attacks.

David Guyatt - 11th September 2001


Senior executives in the Insurance industry predict that both the NY and
London stock markets will collapse following todays extraordinary events in
Manhattan & New York.

They privately estimate that losses could be as high as US$50 billion just
for the structural damage in downtown Manhattan.  The Subway system that
lies beneath the World Trade Centre together with numerous buildings and
other structures in the vicinity of the collapsed World Trade Centre are
also damaged, some apparently beyond repair.

Speaking in private, executives talk of a "worst case" scenario and predict
that the Dow Jones and England's stock market index, the Footsie, will
collapse tomorrow.  Reccomendations to "sell" from people in the know are
spreading throughout "market-land."

ENDS


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