Mumbai Diamond Exchange Closes After Terror Attacks

A Diamond Trading Company event being held at the landmark Taj Mahal Palace was interrupted by a terrorist attack that targeted several buildings. The DTC was holding a reception at the hotel when the violence began.

Two of Mumbai’s most popular hotels, the Taj Mahal and the Oberoi, were taken under siege by gunmen. Additionally, terrorists stormed the Jewish Chabad house, a movie theater, a busy train station, and even a police station. At least 100 people have been killed, and at least 200 wounded in what is being categorized as a terrorist attack.

All financial markets and the Diamond Exchange were closed because of their proximity to the violence, which was first believed to be a gang war (Rapaport News). Now, it is believed that the attacks are targeting tourists, particularly those with British and American passports, and hostages have been taken. Because of this, no names of the captives have been released. It has been reported by various sources that the attackers are Muslim militants armed with automatic rifles and grenades.

The trade market has been down lately, which is, ordinarily, not a good thing. But because of this, there were not a lot of foreign diamond traders in the city, and, therefore, fewer targets for the terrorists. Had it been as busy as it normally is this time of year, more lives could have been lost.

The financial markets and Diamond Exchange will stay closed, pending the outcome of this terrorist attack.