New York gets back to business

The NYSE's closure was the longest since the 1930s

By North America business correspondent Stephen Evans

Markets in New York are set to reopen for the first time since last Tuesday's attack on the World Trade Center.

They will be watched closely to see if they continue the slide that raises the risk of recession.

The six-day break is the longest closure of the New York stock exchange since the great depression in the 1930s.

There were rehearsals to ensure the computer systems worked

Its reopening follows dress rehearsals that have shown that the computer systems can cope.

A partial train and ferry service is also now operating.

Two of the big trading firms, formerly based in the World Trade Center, have found premises outside Manhattan.

The big question, assuming it all works, is what will the markets do, particularly since European markets have fallen sharply over the past week, raising the risk that consumers would cut back their spending.

Before the attack, the world economy had slowed, with the possibility that it would go into recession, where output and incomes actually fell.

The chances of that happening have increased markedly because of the destruction of the World Trade Center.

Some big companies like Ford have shut down plants in North America because of a shortage of parts.

Airlines particularly face big losses, perhaps pushing some out of business.