Word: panic
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...Meanwhile, Asian markets spent the night jabbing at the panic button. Japan?s Nikkei and Hong Kong?s Hang Seng indexes both slid below its 10,000 level - and that was with innumerable stocks bumping against government-imposed curbs. South Korea's market took the heaviest hit, with the benchmark Kospi sinking 12 percent. Markets in Australia and New Zealand both lost just over 4 percent. Singapore ended down 7.4 percent...
...Restraint like that is just like what Alan Greenspan (now making his way back to the U.S. from Switzerland) and the world?s central bankers are hoping for. Fearing panic - and that large dollar transactions could be lost in gaps in the infrastructure created by the World Trade Center disaster - the Federal Reserve requested Wednesday that central banks overseas limit the trading of dollars in the next few days while it copes with money supply issues. Indeed, dollar/yen trading Wednesday was limited and benign...
...concern is that such selling be rational and not out of panic. Central banks have promised to make available as much liquidity to fellow banks as is necessary to keep the system functioning, and many expect a half-point Fed cut to aid that effort in the coming days. But with the damage so close to home, giving investors and traders a few extra days to grasp the long-term impact of this disaster may be helpful in avoiding a panic-induced rupture...
...scene so that they might be set up to record the vivid surreal bloom of the second strike (?Am I seeing this??), and then?could they be such engineering geniuses, so deft at demolition??the catastrophic collapse of the two towers, one after the other, and a sequence of panic in the streets that might have been shot for a remake of The War of the Worlds or for Independence Day. Evil possesses an instinct for theater, which is why, in an era of gaudy and gifted media, evil may vastly magnify its damage by the power of horrific images...
...panic, or will we be brave? Once the dump trucks and bulldozers have cleared away the rubble and a thousand funeral Masses have been said, once the streets are swept clean of ash and glass and the stores and monuments and airports reopen, once we have begun to explain this to our children and to ourselves, what will we do? What else but build new cathedrals, and if they are bombed, build some more. Because the faith is in the act of building, not the building itself, and no amount of terror can keep us from scraping...