In 2003, Capture of Saddam Hussein Boosted Consumer, Investor Confidence
More than seven years ago, U.S. troops captured Saddam Hussein at a time when Iraq was the central front in the War on Terror, and Hussein was public enemy number one. That capture led to an immediate increase in consumer and investor confidence.
On the day before Hussein was captured, the Rasmussen Investor Index was at 135.3. Within two days, the Investor Index gained 12 points to 147.5. Within three weeks, confidence reached the highest level of the post-9/11 era at 150.9. Consumer confidence typically responds to major events a few days later than investors but also jumped following the capture of Hussein and peaked about three weeks later.
The data shows that the uptick in confidence ended within a few months as other events began to dominate the news.
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