Tuesday's terror attacks in Brussels were a grim reminder of our cities' vulnerability in the age of global travel. But there's evidence that investors have become inured to their effects as attacks in the West become more common.
The German DAX index closed up 0.42 percent Tuesday; a decade ago it's doubtful it would have gone up.
An analysis of market performance before and after terror attacks over the past decade suggests that investors don't react as drastically as they once did.
For example, the DAX fell more than 3 percent in five days in March 2004, after the Abu Hafs al-Masri Brigade killed more than 190 people on the Madrid train system. Last November, the DAX reacted to the attacks in Paris by climbing 2.3 percent over five days.