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Markets React to Las Vegas Tragedy

October 2, 2017
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America suffered another horrific tragedy this weekend as a mass shooting in Las Vegas which killed at least 50 people and wounded at least another 400 according to CNN. The shooting is the deadliest in U.S. history.

Markets reflected the news, with “shares of Las Vegas casino operators [falling] as much as 5 percent in premarket trading on Monday,” according to Reuters.

MGM Resorts International, which owns the Mandalay Bay hotel from where the gunman opened fire, was down 5 percent. Melco Resorts & Entertainment Ltd, Wynn Resorts Ltd and Las Vegas Sands Corp each fell 1 to 2 percent.

As details continue to trickle in the markets may react further but that will remain to be seen. The President has yet to issue a formal address on the shooting, which will likely have an impact on where the markets go.

The shooting comes at what has been a trying period, with back to back hurricanes having just pummelled the southern states and Puerto Rico. It remains to be seen how the state and federal governments will deal with the issue going forward.

For Reuters’ article on the effect the shooting had premarket trading, click here.

For CNN’s article on the shooting, click here.

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