Experts are already speculating about the economic effects of last week's Paris terror attacks, and the indications are that there will be some downside.
On the one hand, the attacks have impacted on business sentiment, dampening spirits that are already muted in some markets.
A bigger effect in Europe, however, is expected in the form of fiscal lag, led by increased government spending on defence and security - an almost certain consequence.
While we express our sympathy for those affected in the attacks, we should not let ISIS succeed in damaging the economy as well as shattering the peace, and businesses around the world should pull together to overcome any negative sentiment.