In the wake of Tuesday's tragedies in New York City and Washington, University economic experts agree that now is a time of great uncertainty in the world economy.
"There is a lot of volatility in the market," Economics Prof. Robert Usarek Jr. said.
The Wall Street market has been closed since the attack on Tuesday and is expected to reopen Monday, making this the longest trading shutdown since the Great Depression.
Japan's financial market also suffered when the Nikkei Index dropped nearly 7 percent Wednesday.
So far, governments around the world have infused $120 billion, hoping to stabilize international financial markets.
But despite the initial downturns in financial sectors, University professors said current trends will not hurt the overall economy in the long run.
"I don't know whether it will have an effect at all," said William R. Johnson, a professor in the economics department.
Usarek also said he believes that while there is volatility in the market, "I wouldn't assume that a major recession is on its way."
But officials around the world are taking steps to ensure a recession will not occur.
Congress has suspended debate over the use of Social Security payroll taxes and now is concentrating on two main objectives: restarting securities exchanges and returning the air-traffic system to normal.
The European Central Bank provided its banks with an unexpected $63 billion and the Bank of Japan added $17 billion in efforts to keep credit flowing normally in world markets.
As the United States government pours money into reconstruction and rescue efforts because of the attacks, the economy may acutally be stimulated by the influx of dollars.
"Through government spending in reconstruction, cleaning up, and efforts in antiterrorism, the economy can be positively stimulated," Johnson said.
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