US Financial Markets Operate Smoothly on First Day
Congratulations to the New York Stock Exchange, NASDAQ, the American Stock Exchange, and the other US financial markets for successfully restoring trading yesterday. They not only traded all day with no interruptions, but also made trading look smooth, in spite of tremendous volume.
As we pointed out last week, this achievement was not a foregone conclusion. There was a very good possibility that communication links would fail after trading resumed, because relocated facilities may not have been as redundant as the ones that existed prior to the disaster.