Dow plunges in wake of tragedy

Denver — Nearly a week after the terrorist attacks on New York City and Washington D.C., trading resumed in a strongly negative fashion. The Dow Jones industrial average plunged 702.11 points, or 7.3%, to 8903.40 during the report period ended Sept. 18. The Nasdaq was off 8.3%.

Gold prices on the Comex division of the New York Mercantile Exchange climbed in the wake of the tragedy to US$288.10 per oz., while gold stocks were up. Newmont Mining climbed $1.19 to US$22.34; South Africa’s AngloGold gained 72 to US$16.54; Meridian Gold jumped $1.07 to a new high of US$11; Glamis Gold gained 73 to close at US$3.94; Nasdaq-listed Harmony Gold Mining rose 57 to US$5.22; Gold Fields grew 39 to US$4.25; and Peru’s Compania de Minas Buenaventura added $2.25 to US$22.

Comex copper remained stuck at US65 per lb., while shares of copper companies hit new lows. Phelps Dodge dropped $2.39 to US$33.94, and Southern Peru Copper dropped 63 to a new low of US$10.66. Class A and B shares of Freeport-McMoRan Copper & Gold fell 62 and 47, respectively, to US$10.15 and US$11.50. BHP Billiton bucked the trend, climbing 15 to US$10.

Mining giant Anglo American sunk $1.40 to US$11.35, while Rio Tinto dropped $5.69 to US$62.90. Anglo American Platinum plunged $2.50 in light trading to US$35.50; Stillwater Mining declined 44 to US$22.75; Apex Silver Mines jumped $1.30 to US$10.25; Hecla Mining gained 18 to US$1.03; and Coeur d’Alene Mines rose 14 to US87.

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