As you know, the U.S. led coalition forces established themselves firmly in Baghdad and for all practical purposes; Saddam Hussein’s regime has fallen. So far, the market has not shared the jubilation of the Iraqi people. It fell 1.2% on the day Baghdad fell.
The market rally that began on March 12, a few days before the first attacks on March 19th, peaked on March 21st, two days after the initial missile attacks on Saddam Hussein’s bunker. The rally was caused when market participants became more certain that an invasion would take place and the uncertainty (which the . . .
Continue Reading: April 11, 2003
