The terrorists would be especially gratified if, as Mr. Zapatero suggests, their attack will have the effect of denying President Bush a key partner not only on Iraq, but in the war on terror more generally.
Short-term traders who had been watching the broader market climb deeper into overbought territory in recent days may be among the few market participants gratified by the late sell-off on Thursday.
"We are gratified with this latest arrest and hope that justice will be served on all of those who were involved in this crime against humanity, " they said in a statement.